Bitcoin’s continuous rally that started earlier this week finally came to a halt at $96,000 as the asset failed to breach that level and has dropped by around two grand since then.
Many altcoins have produced even more painful declines over the past 24 hours, including SOL, DOGE, ADA, and SHIB.
BTC Rally Paused
It was a great week for the primary cryptocurrency. It began on Monday with a breakout from the short-term upper range boundary at $86,000 that sent BTC above $87,000. The asset continued its run on Tuesday and it finally jumped past $90,000 – for the first time since early March.
After a minor retracement, BTC kept climbing and tapped $92,000 on Wednesday. The culmination came on Friday when the bulls really stepped up on the gas pedal and sent the cryptocurrency flying to just shy of $96,000. This became its highest price in exactly two months.
The weekend has been a lot calmer, as bitcoin failed to overcome that resistance despite another attempt earlier on Sunday. As of now, though, BTC remains around two grand away from its local peak. Its market capitalization has slipped below $1.870 trillion on CG, while its dominance over the alts stands tall at 61.3%.
Alts Retrace
Most altcoins have dropped even more over the past day than BTC. In fact, only ETH and TRX are slightly in the green from the larger caps.
In contrast, some of yesterday’s top performers, such as PEPE and SHIB, have dropped by well over 5% each. ADA, SOL, DOGE, LINK, AVAX, and XRP are also in the red.
The cumulative market capitalization of all crypto assets has declined by around $40 billion since yesterday and roughly $70 billion since the Friday peak.
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