On June 28, bitcoin prices fluctuated slightly over the $20K mark. The bitcoin price eventually dropped to $20K towards the end. Market Watch also pointed out the bearishness of the altcoin prices. They include DOGE and AVAX as well as SOL.
Drawing from June 29 data, Bitcoin’s price has finally plunged below the $20K mark. The bearish market is also felt by many renowned cryptos, including Shiba Inu and Ethereum.
Bitcoin Loses The $20,000 Mark
Last week’s news reported that Bitcoin attempted several times to reverse the decline in its value. Its price soared from $17500 to $21,000 during that period. The price rebounded from its low of $17,500 18 months ago. The price remained at $21K until the price reached its 10-day highest price of just $21,800.
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BTC eventually dropped below $21K after its journey to higher prices became futile. BTC tried to reach this price but was unsuccessful in every attempt.
BTC’s unsuccessful attempts to appreciate eventually turned into a bearish trend toward $20K. The news was published on June 28. It reached slightly higher than the $20K mark.
From today’s market watch, the price of Bitcoin has plunged below $20,000. Bitcoin’s price has fallen below $20,000.
How Does This Affect Other Digital Tokens
The bearish movement of Bitcoin’s price affects the rest of the digital tokens. This is why there are so many red bars in our crypto market chart.
Ethereum tried to climb higher during the bearish market conditions over the weekend. ETH traded at $1,200 that day. However, this did not last too long as Ethereum’s price currently sells at $1,116, about a 6.5% daily decline in price.
BNB trades now at $219 according to CoinMarketCap altcoin price data. It has experienced a 7.5% plunge in price over the past 24 hours. Other altcoins that are experiencing a downtrend include SOL, DOGE and SHIB to name a few.
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Also, despite the slight appreciation of the LEO, Tron, and Cardano tokens, they remain in the chart’s red zone. The total market dump of crypto assets since 2 days ago amounts to $60B.
Add this number to the drop in market capital since the beginning the bearish trend and it equates at $900 Billion.
Featured Image from Pexels. Chart by TradingView.com