Altcoins in Deep Red as Bitcoin Slips Below $100k

TL;DR

• BTC is down nearly 5% in the last 24 hours and now trades below $100k.

• Altcoins are suffering bigger losses, with most down 8% or more.

BTC Slips Below $100k

The cryptocurrency market underwent a correction over the weekend, with most coins and tokens down 5% during that period. Bitcoin, the leading cryptocurrency by market cap, is down nearly 5% in the last 24 hours and has now dropped below $100k.

Bitcoin is trading at $99,890 at press time and could drop lower if the bearish momentum persists. There is no catalyst behind this latest dump, as the broader market is undergoing a healthy correction.

Altcoins are underperforming compared to Bitcoin. Ether, the second-largest cryptocurrency by market cap, is trading at $3,121, down 6.5% in the last 24 hours.

Solana’s SOL is the worst performer among the top 10 cryptocurrencies by market cap, down 10% and now trades at $231 per coin. Dogecoin is down 9.5%, while Cardano’s ADA has shed 8.5% of its value.

BNB and XRP also lost 6% of their values over the weekend. Thanks to this latest correction, the total cryptocurrency market cap has dropped to $3.41 trillion, down nearly 6% in the last 24 hours.