In the past 24 hours, Bitcoin's price experienced a significant decline following US attacks on Iranian nuclear sites. This event has also negatively impacted other cryptocurrencies.
Bitcoin Tries to Recover
The week began with an increase in Bitcoin's price, which rose from under $105,000 to $109,000. However, soon after it faced a sharp rejection, dropping to $103,500 before bulls managed to push the price back up by $3,000. Nonetheless, negative market sentiment continued to weigh on the asset's value.
Situation with Altcoins
The rising dominance of Bitcoin amidst its price decline indicates that altcoins are suffering even more. Ethereum lost over 7% in the past 24 hours and is nearing the $2,200 mark. Other altcoins such as Solana and Dogecoin have also faced significant losses. Recent reports suggest that expectations for an alt season are often based on 'wishful thinking' rather than solid data.
Market Under Negative Sentiment
Recent US attacks on Iranian sites led to Bitcoin's price dropping below $101,000, marking a low not seen in three weeks. Currently, Bitcoin's price stands at $102,500. Its market capitalization has decreased to $2.040 trillion, while its dominance over altcoins has risen to nearly 63%.
Geopolitical events are having a noticeable impact on the crypto market, causing significant price fluctuations and highlighting the need for closer monitoring of the situation.
