Bitcoin’s troubles continued for a third straight day, with another price slide, which took it to almost $27,000 this time.
BTC’s New Local Low
It was just days ago when the primary cryptocurrency had initiated an impressive leg-up that drove it to almost $30,000. However, its inability to conquer that coveted level meant upcoming trouble.
The bears took control of the market and pushed BTC south to under $29,000. After staying there on Sunday, the landscape started to change for the worse on Monday. As a result, the asset plummeted by another grand.
The past 24 hours brought even more pain for the bulls. Bitcoin went from $28,000 to just over $27,200 in another price drop. It has managed to recover a few hundred dollars since then but is still more than 1% down on the day.
As a result, bitcoin’s market capitalization has slid to $535 billion. Just for reference, the metric was well above $560 billion on Friday night.
Its dominance over the altcoins has also retreated slightly to just under 47%.BTCUSD. Source: TradingView
The altcoins have not enjoyed the past several days, either. Ethereum stood well above $1,900 during the weekend but has dropped below $1,850 as of now. Binance Coin is down from over $340 to $315 as of writing these lines.
The total crypto market cap, though, has declined once again. The metric, which was over $1.2 trillion days ago, is now at $1.140 trillion on CMC.Cryptocurrency Market Overview. Source: Quantify Crypto