Gains from yesterday were quickly reversed across the crypto market, with several altcoins including PI, DOGE, and XRP posting sharp losses.
Bitcoin’s weekend rally stalled just above 70,000 dollars before the price retreated to around 68,000 dollars, where it found temporary support. Earlier this month, the asset experienced heavy volatility, dropping to 60,000 dollars on February 6 after shedding 30,000 dollars in less than two weeks. It then rebounded strongly to 72,000 dollars but struggled to maintain momentum.
After trading within a range between 72,000 and 68,000 dollars, Bitcoin slipped below 66,000 midweek before buyers stepped in. The price climbed back above 70,000 dollars over the weekend but was rejected again and now trades below 69,000 dollars. Its market capitalization stands near 1.375 trillion dollars, with dominance over altcoins at 56.6 percent.
Altcoins have also turned lower. Ethereum was rejected near 2,100 dollars and has fallen below the key 2,000 dollar level. XRP, which briefly surged past 1.65 dollars, has dropped under 1.50 dollars. Dogecoin, after leading gains among large cap tokens, has declined 9 percent in the past day to around 0.10 dollars.
Other notable declines include XMR, ZEC, WLFI, MNT, and the PI token, which fell from above 0.20 dollars to near 0.17 dollars. Overall, the total crypto market capitalization has decreased by 70 billion dollars in one day, now sitting at approximately 2.425 trillion dollars.
