Bitcoin Slips to $65k as Altcoins Dump Harder

Twitter icon  •  Published 1 year ago on June 18, 2024  •  Hassan Maishera

Bitcoin dropped below the $66k level on Monday after losing 1% of its value while altcoins recorded bigger losses as the market underwent a correction.

Bitcoin Slips to $65k as Altcoins Dump Harder

TL;DR

  • Bitcoin has dropped to the $65k level once again after a poor start to the week.

  • Altcoins dumped harder, with the total crypto market cap dropping below $2.4 trillion.

BTC Slips Below $66k

The cryptocurrency market is having a poor start to the week after Bitcoin and other major altcoins recorded huge losses on Monday.

BTC, the world’s largest cryptocurrency by market cap, lost 1% of its value on Monday and is now trading at $65,545. Over the last seven days, BTC has lost more than 3% of its value. 

There is no catalyst behind this latest price decline as the broader crypto market embarks on a correction. Altcoins suffered heavier losses, with some major altcoins losing more than 10% of their values over the last 24 hours.

Ether, the second-largest cryptocurrency by market cap, lost 3% of its value on Monday and is now trading below $3,500 per coin. Dogecoin is the worst performer amongst the top 10 cryptocurrencies by market cap, losing 10% of its value. 

Meanwhile, Solana and Cardano lost 7% of their values on Monday. With BTC and altcoins underperforming, the total crypto market cap now stands at $2.36 trillion, down by 2%.

 

Senator Lummis Introduces Standalone Crypto Tax Reform Bill After Budget Package Exclusion
Next article Senator Lummis Introduces Standalone Crypto Tax Reform Bill After Budget Package Exclusion

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.