Massive Losses for These Altcoins as BTC Slips Below $116K: Weekend Watch

Bitcoin’s recent price renaissance was stopped at $118,000 at the end of the business week, and the asset was pushed south to $115,200 on Saturday ￰0￱ larger-cap alts are slightly in the red on a daily scale, but even more painful declines come from the likes of M and ￰1￱ Slips After Recovery The primary cryptocurrency had an overall positive week , in which the US Federal Reserve finally reduced the key interest ￰2￱ up to the FOMC meeting that took place on Wednesday, BTC experienced some volatility and went up to $117,200 only to drop below $115,000 before the event. However, it had recovered to $116,000 when the US central bank announced the cut and remained relatively muted at ￰3￱ went on the offensive during the early Thursday morning trading session when it pumped to a multi-week peak of $118,000.

After gaining over seven grand since the previous week’s low, though, came the inevitable rejections that pushed it south hard, especially on Saturday ￰4￱ today, bitcoin slipped to $115,200 before it staged a minor recovery to roughly $116,000 as of ￰5￱ market capitalization has remained above the $2.3 trillion mark, while its dominance over the alts is still below 56% on CG. BTCUSD.), and PENGU (-7%). The total crypto market cap has erased over $50 billion since the recent peak and is down to $4.140 trillion on ￰6￱ Market Overview.