Bitcoin Drops Below $64,000 As Altcoins Also Decline Today – Market Watch

The cryptocurrency market is currently in a correction as the bulls seem to be taking a breather after the recent rally. This has caused the total capitalization to fall to about $2.45 trillion, losing approximately $40 billion in the last 24 hours.

The price of Bitcoin is also falling, along with most altcoins, so let’s take a look.

Bitcoin price falls below $64,000

BTC bulls were unable to hold the price above $66,000 earlier in the week and the bears have since managed to take control.

Sellers are now trying to drag BTC below $63,000, having contributed to a 2% daily decline.

Source: TradingView

According to data from CoinGecko, Bitcoin’s dominance, the metric that measures its share relative to the rest of the market, is currently 51.2%. It has declined by around 0.2% in the last 24 hours, which means that altcoins, collectively, are doing relatively better.

The volatility we’ve seen this week comes amid a great deal of political turmoil in the US as the presidential election approaches. Prominent figures in the crypto community are voicing their opinions, including Messari’s Ryan Selkis, Ethereum’s Vitalik Buterin, Cardano’s Charles Hoskinson, and many more.

Altcoins also decline

Most altcoins are also in decline. Obviously, some do it better than others. For example, SOL, TRX and TON have managed to stay in the green despite the broader market decline, albeit slightly.

Source: Quantify Crypto

Others, such as XRP, AVAX, ADA, UNI, Ripple’s MATIC, etc., are seeing somewhat more substantial declines, between 3% and 5%.

However, it’s not all doom and gloom. Some cryptocurrencies have managed to defy the fall in the last 24 hours. Mantle increases by 10%, while WIF increases by 6%.

On the other hand, the worst performers during this period are Lido DAO (LDO) and GALA, both of which lost almost 7%.

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