Bitcoin Crashes to 6-Week Lows as Crypto Markets Shed $60 Billion (Market Watch)

Yesterday’s price surge was short-lived, as bitcoin reversed its course and fell below $19,000 for a multi-week low.

Alternative coins, which saw impressive increases yesterday, are also in the red today with ETH erasing any gains.

Bitcoin Prices Below $19K

Since bitcoin lost the $20,000 line at last month’s end, the asset has remained quiet with only a few unsuccessful attempts.

Yesterday’s latest example was when BTC reached a daily high at $20,300. But it quickly crashed and retreated below it.

In the last 18 hours, the cryptocurrency plummeted by more than $1,000. It fell to just under $18,500 an hour, a six-week low.

The asset is still below $19,000 despite having gained a few hundred dollars over the years. Its market capitalization has fallen to $360 billion. However, it still holds 38.2% of the other coins.

BTCUSD. Source: TradingView
ltcoins are hard to find

Many altcoins were in the green yesterday, particularly those that have any connection to Ethereum. The hype surrounding the Merge, Bellatrix upgrade and the Bellatrix upgrade pushed the second largest crypto to a multi-day peak.

The landscape has changed dramatically with alts in the last 24 hours. ETH is currently among the biggest losers, with a 9% daily dump. The asset is now struggling to stay above $1,500.

Ethereum Classic, another huge gainer, fell by more than 16% to $34.

Binance Coin and Ripple, Cardano. Solana. Polkadot. Dogecoin. Shiba Inu. MATIC.

Alts with lower and mid-caps are not in better shape. The cumulative market cap for all crypto assets has dropped to $940 billion in one day.

Cryptocurrency Market Overview. Source: Quantify Crypto

CryptoPotato’s first post, Bitcoin crashes to 6-week lows as crypto markets shed $60 billion (Market Watch), appeared first on CryptoPotato.

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