ICP is today’s top performer.
Bitcoin’s continuous price declines over the past several days resulted in another nosedive to a seven-month low of under $90,000 yesterday.
Most altcoins followed suit, with ETH dipping below $3,000, BNB beneath $900, and XRP toward $2.10. However, a few altcoins have defied the overall crash.
BTC Kept Dropping
What a painful November it has been so far. The primary cryptocurrency entered the month at around $111,000 but quickly dipped below $100,000 during the first week. It bounced off almost immediately to over $107,000 last Tuesday, but it has been all downhill since then.
In the next few days, BTC was gradually sliding and dropped below $100,000 on Thursday evening. The situation worsened on Friday with another nosedive to $94,000. The weekend was calmer and slightly more positive as BTC remained in a tight range between $94,000 and $96,000.
However, another leg down began on Sunday and culminated on Monday evening with a more violent drop to under $90,000. This became bitcoin’s lowest price level in roughly seven months.
Although BTC has been able to recover some ground since then to the current $91,000, its market cap has dumped to just over $1.8 trillion. Its dominance over the altcoins, though, has plunged below 57%.
BTCUSD. Source: TradingView
ICP, HYPE, ASTER Trade Differently
As it typically happens when BTC heads south, so do most altcoins. ETH dipped below $3,000 yesterday, and even though it’s slightly above that line now, it’s still 5% down on the day. XRP has lost 4.5% of value, while ZEC has plunged by more than 10%. ADA, BNB, SOL, DOGE, LINK, XLM, AVAX, and HBAR are also deep in the red.
Although most other lower- and mid-cap alts are in a similar or even worse state, there are a few exceptions. ICP stands out as the top gainer, having surged by more than 15% to over $5.6. HYPE has soared past $40 following a 5.5% daily jump. ASTER has gained 7.5% and now sits above $1.30.
The total crypto market cap has lost another $150 billion in a day and is down to $3.2 trillion on CG.
Cryptocurrency Market Overview Daily. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.
