Bitcoin’s price adventure above $65,000 came to a halt yesterday evening as the asset was rejected and driven south by approximately $1,500 to under $64,000.
Several larger-cap altcoins have followed suit, including ETH, which has dropped below $1,900, and XRP, which is just inches away from slipping below $1.00 for the first time since November 2024.
BTC Halted at $65K
The primary cryptocurrency slumped at the beginning of the previous week as well, going from $63,800 to a monthly low of $62,200 within hours before it finally found some support. It erased the losses immediately and even jumped past $64,000 a day later. Its gradual ascent continued for a few days to $65,000 before the CLARITY Act’s latest setback in the US Senate sent it south toward $64,000.
However, that support held, and the weaker US jobs data on Friday resulted in another leg up to $65,400. BTC failed to overcome that level, though, and calmed at around $65,000 for the weekend. It didn’t really make a move for the next 48 hours before it tried a minor breakout on Monday, which was stopped at $65,400 once again.
This time, though, the bears were more persistent and drove the cryptocurrency south to $63,800 as Peter Schiff used the opportunity to urge investors to sell. BTC didn’t dip any further and now sits at around $64,000 once again.
Its market cap has dropped below $1.290 trillion, while its dominance over the alts sits above 57% on CG.
XRP, PI, ADA Drop
Ethereum is down by 2.5% in the past day and now struggles below $1,900. Ripple’s native token is among the poorest performers lately, and it has dipped to a 21-month low at inches above $1.00. It’s now agonizingly close to breaking below that coveted level. ZEC has dumped by almost 5% to under $490, while ADA is below $0.19 after a 4% decline.
In contrast, BNB, TRX, HYPE, DOGE, RAIN, XMR, and LINK have marked some gains within the same timeframe. MNT is up by over 6%, while WLF has gained more than 4%.
Pi Network’s native token has dropped below the $0.09 support after another near-5% daily crash.
The cumulative market cap of all crypto assets has erased around $40 billion since yesterday and is down to $2.250 trillion on CG.
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