The early 2026 crypto rally has been wiped out in just a few days, with Bitcoin (BTC) tumbling below $88,000 to hit a 19-day low. Altcoins have also been hammered, with XMR and HYPE among the worst performers in the past 24 hours.
Bitcoin Slides Under $90K
Just a week ago, BTC briefly reached $98,000, fueling optimism about a potential $100K milestone. The price held above $95,000 for several days, even amid escalating tensions between the U.S. and EU. That stability vanished Monday morning as Asian and futures markets opened.
BTC fell from $95,500 to $92,000, briefly rebounded to $93,500, then dropped to $91,000 on Tuesday. Over the past 12 hours, it sank further below $88,000, its lowest since January 2. It has since recovered slightly to above $89,000, down 2% on the day and 6% weekly, with a market cap of $1.78 trillion and a dominance of 57.5%.
Altcoins Face Heavy Losses
Ethereum slipped from above $3,300 to below $3,000, XRP dropped from $2.10 to $1.90, and BNB fell under $900. TRX is down 3% daily.
Monero (XMR) was the hardest hit, plunging 15% to below $500, while HYPE fell 8% to $21. Only a few coins bucked the trend, with CC up 7% and WLFI up 5%.
The total crypto market capitalization has now fallen below $3.1 trillion, erasing more than $250 billion since Monday.
