Bitcoin continues to underperform, as its price remains below $26,000. This lackluster performance is reflected in most altcoins as well, with SOL, LTC, SHIB, and TON experiencing the biggest losses, ranging up to 5%.
The primary cryptocurrency had a significant price surge a week ago after Grayscale won a legal battle against the SEC. This propelled BTC from $26,000 to a 15-day high of over $28,000. However, the excitement was short-lived as the SEC decided to delay their decision on current spot Bitcoin ETF applications. As a result, BTC retraced by $1,000 the next day and dropped another $1,500 within 24 hours.
The price plunge pushed Bitcoin to an 11-week low at $25,350 on various exchanges. Although it managed to recover slightly to around $26,000 by the weekend, there has been little movement since then, with BTC trading just below that level. Its market capitalization has dropped below $500 billion, and its dominance over altcoins remains at 48.3%.
Among altcoins, Ethereum is down 1% and standing at $1,620. BNB, XRP, ADA, Solana, Litecoin, Shiba Inu, and TONCOIN have also experienced losses in the range of 2.5% to 5.5% over the past 24 hours. On the positive side, DOGE, MATIC, and TRX are among the few altcoins showing gains.
Overall, the total cryptocurrency market cap has retraced to $1.040 trillion on CoinMarketCap, erasing the gains from the previous day.
Keywords: Bitcoin price, altcoins, market watch, cryptocurrencies, BTC, SEC, Grayscale, Ethereum, Solana, Litecoin, Shiba Inu, TONCOIN.
Hashtags: #Bitcoin #altcoins #cryptomarket #Ethereum #BTC #SEC #cryptocurrencies #Grayscale #solana #litecoin #ShibaInu #TONCOIN
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