Bitcoin’s brief recovery attempts from yesterday came to a halt as the asset dropped below $113,000 for the first time since August 3.
Most altcoins are also in the red on a daily scale, with ETH struggling to remain above $4,200 and XRP dropping below a crucial technical support level.
BTC Slipped Below $113K
The current business week was expected to be volatile for the primary cryptocurrency, especially following the unusually calm weekend, during which the asset traded sideways around $117,500.
The losses began as Monday started, with bitcoin dropping to an 11-day low at the time of $115,000 before and after the highly anticipated meeting between Trump, Zelenskyy, and a few more European leaders.
The landscape worsened on Tuesday, even though BTC recovered some ground at first to $117,000. However, the bulls quickly lost their grip on the market, and bitcoin nosedived below $113,000 on Tuesday evening and on Wednesday morning. This became the asset’s lowest price tag in roughly three weeks as fear has taken over.
Although it has bounced to almost $114,000, it’s still in the red on a daily scale. Its market capitalization has declined to $2.265 trillion, while its dominance over the alts is still below 58%.
ADA Slumps, XRP Struggles
Aside from LINK, which has charted a 3% daily increase, a few other altcoins are with minor gains over the past day, including SOL, TRX, LEO, and TON.
In contrast, Ethereum has dropped toward $4,200 after a 1% daily decline. Similar losses are evident from the likes of BNB, DOGE, HYPE, XLM, and SUI.
Ripple’s native token has dropped below $3.00, which is considered a crucial support in its bull market aspirations. A 4% decline has pushed the asset to $2.90.
Cardano’s ADA has dumped the most from the larger-cap alts, losing over 8% of value and struggling at $0.85.
The total crypto market cap has seen over $70 billion gone overnight and is down to $3.920 trillion on CG.
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