- Bitcoin’s price has seen a significant drop in the past 24 hours, falling below the $62,000 and $61,000 marks to chart a 6-day low.
- While some altcoins have followed Bitcoin’s downward trend, others such as TON and RNDR have posted impressive gains of around 7% each.
- Bitcoin’s market cap is close to breaking below $1.2 trillion, and its dominance over the altcoins has declined to 50.5%.
Bitcoin’s price troubles continue as it charts a 6-day low, while altcoins TON and RNDR defy the overall sentiment with impressive gains.
Bitcoin Drops to $61K
Bitcoin had a strong end to the previous week when it jumped from under $59,000 to $62,000 on Friday and kept climbing during the weekend to almost $64,000. However, the bears were quick to intercept the move and didn’t allow any further gains. The asset started losing value in the next few days, falling below $61,000 for the first time in nearly a week. It has since recovered some ground and now trades above $61,000, but it is still 1.5% down on the day.
TON Defies Overall Sentiment
Despite the downward trend of Bitcoin, some altcoins have managed to post gains. Ethereum and Ripple have both dropped by around 1% in the past day to under $3,000 and $0.51, respectively. However, Binance Coin and Cardano have added over 3% of value in the past day. Toncoin has emerged as the top performer from the larger-cap alts, having gained 7% on a daily scale. Consequently, TON trades above $6 now. RNDR is the other notable gainer from the top 36 alts, followed by PEPE, ETC, ATOM, HBAR, and LTC.
Conclusion
While Bitcoin’s price continues to struggle, some altcoins are defying the overall sentiment and posting gains. The total crypto market cap has shed another $20 billion and is down below $2.4 trillion. Investors are advised to conduct their own research before making any investment decisions.
