Bitcoin continues to experience a correction, dipping to a multi-week low below $112,000. Meanwhile, altcoins show unstable performance.
Bitcoin's Situation
At the beginning of the current week, Bitcoin showed activity, rising towards $120,000. However, bears quickly returned, preventing Bitcoin from overcoming resistance.
Over the next few days, the cryptocurrency traded between $117,000 and $119,000 but dipped to $116,000 after the US Fed refused to lower interest rates. Amid political instability and global economic threats, Bitcoin entered a correction mode, dropping to $115,000 and then below $112,000 on Saturday, marking a three-week low. However, in the last hours, Bitcoin reacted to the price drop, adding over $1,500.
Altcoin Market
Ripple's token, XRP, displayed relative resilience after the recent correction, remaining around $3, but later lost that support, dropping to below $2.9. Ethereum continues to decline, falling under $3,500, while SOL and DOGE showed minor losses.
Pi Network's token, meanwhile, bounced back after reaching another all-time low, gaining 4-5% and reaching $0.36.
Overall Crypto Market Situation
The total cryptocurrency market capitalization remained at $3.750 trillion, having dropped almost $250 billion since Thursday.
The current correction of Bitcoin and the instability of altcoins highlight the volatile nature of the cryptocurrency market and the importance of closely monitoring events that impact prices.
