Cryptocurrency Market Loses 90 Billion in 2 Days Bitcoin BTC Drops by 67000 Market Observation

Bijie.com reports:
Bitcoin failed to break the bottom line of $70,000, which led to immediate selling pressure, as the asset fell below $67,000 in the past few hours.
Altcoins were also in a loss state, and the total market value of cryptocurrencies has dropped from a local peak of $2.5 trillion on Monday morning to slightly above $2.4 trillion.
BTC falls below $67,000
After ending a highly positive trading week on Friday, major cryptocurrencies calmed down over the weekend. It surged from $62,500 on Monday to $69,000 on Friday, and then slightly dropped to $68,000 on Saturday and Sunday.
The situation was more favorable at the opening on Monday, as the asset surged to $69,500 for the first time since late July. However, it failed to continue rising and quickly declined before having a chance to challenge $70,000.
As a result, the price immediately dropped and fell to $66,600 yesterday. It attempted to bounce back since then, but bears have been suppressing it, and the cryptocurrency is now trading well below $67,000 again.
Its market value on CoinGecko has dropped to $1.32 trillion, but its dominance over altcoins has risen from 54.5% yesterday to 54.8%.
Bitcoin/Price/Chart as of 23.10.2024. Source: TradingView
Alts See Red
During the correction of Bitcoin, the increasing dominance of BTC only means one thing – the situation for altcoins is worse. Some of the worst-performing large-cap stocks include SUI, APT, UNI, and WIF. All of them have dropped more than 5% in the past 24 hours.
Most of the remaining alts in the top 36 slots are in a similar state, but with slightly less pain. XRP, DOGE, LINK, and AVAX all dropped by about 3-4%. ETH and BNB fell by 1.5% each, to below $2,600 and $580, respectively.
The cumulative market value of all cryptocurrencies on CG has dropped to $2.41 trillion. This means that the indicator has decreased by approximately $90 billion since the peak on Monday.
Cryptocurrency market overview. Source: QuantifyCrypto