Bitcoin’s brief recovery attempts from yesterday came to a halt as the asset dropped below $113,000 for the first time since August 3.
Most altcoins are also in the red on a daily scale, with ETH struggling to remain above $4,200 and XRP dropping below a crucial technical support level.
The current business week was expected to be volatile for the primary cryptocurrency, especially following the unusually calm weekend, during which the asset traded sideways around $117,500.
The losses began as Monday started, with bitcoin dropping to an 11-day low at the time of $115,000 before and after the highly anticipated meeting between Trump, Zelenskyy, and a few more European leaders.
The landscape worsened on Tuesday, even though BTC recovered some ground at first to $117,000. However, the bulls quickly lost their grip on the market, and bitcoin nosedived below $113,000 on Tuesday evening and on Wednesday morning. This became the asset’s lowest price tag in roughly three weeks as fear has taken over.
Did you like this market update?
This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
Although it has bounced to almost $114,000, it’s still in the red on a daily scale. Its market capitalization has declined to $2.265 trillion, while its dominance over the alts is still below 58%.
Aside from LINK, which has charted a 3% daily increase, a few other altcoins are with minor gains over the past day, including SOL, TRX, LEO, and TON.
In contrast, Ethereum has dropped toward $4,200 after a 1% daily decline. Similar losses are evident from the likes of BNB, DOGE, HYPE, XLM, and SUI.
Ripple’s native token has dropped below $3.00, which is considered a crucial support in its bull market aspirations. A 4% decline has pushed the asset to $2.90.
Cardano’s ADA has dumped the most from the larger-cap alts, losing over 8% of value and struggling at $0.85.
The total crypto market cap has seen over $70 billion gone overnight and is down to $3.920 trillion on CG.