Bitcoins weekend was relatively positive as the asset climbed above $64,000 yesterday, but the start of the business week has brought more pain, with a new decline to under $62,000.

The altcoins have followed suit with even more severe losses, and the total crypto market cap has decreased by around $60 billion.

BTCs Latest Nosedive

Last week started on a more positive note as bitcoin jumped from $65,000 to $67,000 by Tuesday. After failing to overcome the latter on its first attempt, BTC returned and tried a few more times.

Yet, to no avail as the bears resumed their control over the market and propelled a violent price decline on Thursday. It resulted in a drop to $62,800 before the cryptocurrency bounced by over two grand in minutes.

However, that was short-lived and bitcoin started losing value again, falling to $62,400 on Saturday. Sunday was more favorable trading day, as the primary digital asset jumped to $64,400. While the community hoped for a similarly positive start of this week, the landscape changed and BTC dumped to a 10-day low of under $62,000 earlier today.

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Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! Despite bouncing off to above that level now, bitcoin is still 2.5% down on the day. Its market capitalization has declined to $1.23 trillion on CG, but its dominance over the alts has increased to 50.5%.

Bitcoin/Price/Chart 29.04.2024. Source: TradingView

Alts Back in Red

As it typically happens when bitcoin heads south, so do most altcoins. Ethereum was among the top performers yesterday, having surged to over $3,300. All these gains have been erased and a 4% daily drop has pushed the second-largest asset to under $3,200.

Solana, Dogecoin, Toncoin Cardano, Shiba Inu, Avalanche, Bitcoin Cash, and Polkadot have all dropped by somewhere between 5-8% in a day.

BNB, XRP, TRX, and LINK are also in the red, but in a less violent manner. The most substantial daily declines come from CORE (-11.5%), PEPE (-9.3%), GALA (-9.6%), and FLOKI (-9%).

The total crypto market cap has shed just over $60 billion and is down to $2.430 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

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Cryptocurrency charts by TradingView.