Perhaps driven by the latest escalation of tensions between the US and China, bitcoin’s price has tumbled over the past 12 hours to a multi-week low of $103,000.
The altcoins have it even worse, with massive price drops from the likes of SUI, LINK, DOGE, SOL, ADA, and more. CRO has defied the market-wide trend with a double-digit price surge.
BTC Dumps to $103K
Ever since it skyrocketed to almost $112,000 last Thursday to chart a new all-time high, bitcoin’s price has been unable to recapture or even sustain its momentum. It started to fall on the next day when US President Trump recommended a new set of tariffs against the EU.
Although he delayed their implementation for over a month, BTC failed to bounce off decisively and was stopped at around $110,000 on a couple of occasions. The latest rejection, which came on Thursday at $109,000, was the worst one (for now) as it drove BTC down to $105,000.
It recovered some ground to $106,000 yesterday, but the bears reemerged and pushed the cryptocurrency south to a 12-day low of just over $103,000. This decline transpired after Trump said China “violated” the trade agreement between the two, while Beijing responded kindly.
Although BTC has regained some ground and now sits above $103,500, its market cap has slid to $2.06 trillion on CG, while its dominance over the alts has shot up to 61.3%.
Alts Bleed Out, Not CRO
The alternative coins have marked some big losses over the past day. Ethereum is close to breaking below $2,500 after a 4.5% drop. XRP has plunged beneath $2.15, while DOGE, SOL, ADA, SUI, LINK, and AVAX have plummeted by up to 9%.
The situation with the lower-cap alts is even more painful, as many, such as ENA, INJ, VIRTUAL, and PEPE, have charted double-digit price declines.
CRO is the only exception, having gained 17% in the past day and trading close to $0.11.
The total crypto market cap has seen roughly $200 billion gone in the past two days and is down to $3.360 trillion.
