Bitcoins price soared to a multi-day peak of almost $62,000 yesterday but failed there, and the subsequent rejection drove it south by around four grand.

The altcoins have turned red on a daily scale as well, with ETH retracing by 4.5% to just over $2,600.

BTC Down to $58K

The primary cryptocurrency had a volatile last week but managed to recover most of the losses by its end. On Friday, the asset had neared $63,000 after gaining more than $13,000 since the Monday low.

The weekend was relatively sluggish as BTC lost some ground and stood mostly in a range between $60,000 and $61,000. Monday started with a retracement again, but a lot less painful this time as bitcoin fell to just under $58,000.

It bounced off on Tuesday and Wednesday and jumped to nearly $62,000 yesterday after the US announced the CPI data for July. Nevertheless, BTC dropped once again later on after reports that the US government had sent roughly $600 million to Coinbase Prime.

Alicia BakeryCMO - A really good agencyDid you like this market update?

This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! The cryptocurrencys local low came hours ago at just under $58,000. Despite being able to bounce above that level now, the asset is still more than 4% down on the day. Its market cap has slid to $1.150 trillion, while its dominance over the alts has taken a hit and is down to 53.3%.

Bitcoin/Price/Chart. 15.08.2024. Source: TradingView

Alts Heading Downhill

Ethereum is among the poorest performers in the past 24 hours from the larger-cap altcoins. It has dropped by a similar percentage as BTC and sits at just over $2,400 following Jump Cryptos latest ETH sale that sparked speculations about a further decline.

Binance Coin, Solana, Ripple, Toncoin, Dogecoin, Cardano, Shiba Inu, Bitcoin Cash, and Polkadot are also in the red, while Tron has charted a minor increase.

The biggest losers from the mid-cap alt cohort are TIA, WIF, and BRETT, all of which have declined by around 7-9%.

The total crypto market cap is down to $2.160 trillion, which means that it has lost roughly $80 billion since yesterday.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.