The cryptocurrency market faced another wave of volatility. Bitcoin saw a significant setback from its previous highs, while many other digital assets experienced notable losses.
Bitcoin: Ups and Downs
This week was marked by significant fluctuations for Bitcoin. Early in the week, its price dropped from $102,000 to $97,000 after US tariffs against China, Mexico, and Canada were announced. An unexpected surge above $102,000 occurred, but was quickly followed by a decline. Currently, the price hovers around $96,000, with Bitcoin's capitalization approaching the $1.9 trillion mark.
Altcoins Back in Red
Alternative cryptocurrencies are experiencing even more challenges than Bitcoin. Ethereum has dropped by 4% in the last day, nearing $2,600. Chainlink, SUI, AVAX, ADA, and XMR have shown declines of up to 7%. Projects like XRP and TRX have noted minor gains, providing slight relief.
Overall Crypto Market Condition
The total cryptocurrency market has lost approximately $80 billion, reducing to $3.250 trillion. This underscores the challenging situation for most crypto assets.
The week has been tough on the cryptocurrency market. Despite significant fluctuations, Bitcoin maintains its leading position, with its market dominance remaining high. Other cryptocurrencies continue to face severe challenges.
