M is the big winner today, while ZEC has lost some of its momentum.
The Bitcoin price rebound that began on Friday saw the asset rise to $88,000 earlier in the day, where it faced immediate rejection and now stands $2,000 below it.
Most large-cap altcoins were very slow on a daily basis, but ETH remained above $2,800, and XRP stabilized above $2.00.
BTC fails at $88k
The previous work week started off on the wrong foot, and the moodiness persisted for days. On Monday and Tuesday, BTC was violently rejected at $96,000 and pushed south to below $90,000. Although it rebounded to $94,000 almost immediately, the bears quickly returned and began a more painful decline through the rest of the week.
After decisively losing the $90,000 support, Bitcoin continued to decline and fell below $81,000 on Friday. This means that the asset lost $15,000 in less than a week and fell to its lowest level in seven months.
After this disaster, cryptocurrency finally emerged He saw some relief After optimistic comments about the upcoming interest rate cut from the US Federal Reserve. He – she recoil To $84,000 over the weekend and He went up Likewise, on Sunday afternoon and Monday morning, it reached $88,000.
However, this level was too strong for the original. It was rejected there and was down to $86,000 as of press time. Its market capitalization remains at $1.715 trillion on CG, while its dominance in altcoins is close to 57%.
M up, Z down
Most altcoins with large market caps failed to make any significant moves in the past 24 hours. ETH, SOL, ADA, BCH, and LINK are slightly in the red, while XRP, BNB, TRX, DOGE, and HYPE have made small gains.
More painful declines came from XMR and DOT, while ZEC fell 7% to below $540. In contrast, HBAR rose more than 5%, while CC rose 10%. MemeCore is another notable gainer, after rising 9% to over $1.90.
The total cryptocurrency market capitalization lost about $30 billion in a single day and is close to falling below $3 trillion.
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