The recent sell-off pulled Bitcoin price down to $82,000 with it falling over 7.6% from the daily high of $89,100 today. Following Bitcoin, several altcoins also dumped significantly before quickly recovering.
Since 21st February, Bitcoin price has dropped over 11% while marking the weekly low of $82,200 yesterday. This price action has wiped out more than $260 billion from Bitcoin’s market cap while spot Bitcoin ETFs are already seeing $2.43 billion in weekly outflow.
Coinmarketcap data shows that Bitcoin is currently trading at $86,300, down 20% from its all-time high of $109,111, marked on 20 January.
As the whole crypto market dips, several altcoins are bleeding and losing their support zones despite notable buying. Solana (SOL) has been one of the large cap altcoin continuously seeing downtrend with it dipping as low as $130 in the past 24 hours.
SOL price is currently trading at $140, down 18% in the past 7 days. The tension ahead of billions of worth Solana token unlock is constantly increasing selling pressure in the market.Â
From other major altcoins, Ethereum (ETH) is also down 5% with its price now hovering around $2,350 and XRP trading at $2.21 – down 3% in the past 24 hours.
Besides, mid-cap altcoins – including XDC, QNT, KAS, DEXE, OM, XMR and MNT – have also witnessed drastic volatility this week.
Trending Crypto Today
- KAITO (KAITO)
- SOL (Solana)
- LTC (Litecoin)
- SAFE (Safe)
- PI (Pi Network)
Top Gainers Today
- KAITO (KAITO): +35%
- SAFE (Safe): +28%
- GRASS (Grass): +12%
- OP (Optimism): +9%
- ZEC (Zcash): +8%
Top Losers Today
- ETH (Ethereum): -6%
- DEXE (DeXe): -5%
- KAS (Kaspa): -5%
- XDC (XDC Network): -5%
- MNT (Mantle): -4%
As per Coinmarketcap data, the global crypto market currently sits at $2.86 trillion – down 1.68% today – with a trading volume of $159.4 billion.Â
Read: Solana Hits 4-Month Low, Can It Recover From the Crash?
