CandleFocus Crypto Market Bleeds Out Again as Bitcoin (BTC) Was Rejected at $100K (Market Watch)
2024-12-26
Author: Content Editor
The recent relief rally in Bitcoin (BTC) was halted as it failed to surpass $100,000 and faced a significant decline. This led to even greater losses for altcoins such as LINK, AVAX, ADA, SUI, and others. Bitcoin experienced a massive correction last week, dropping from $108,000 to $92,000, before bouncing back. However, it failed to break the $99,500 mark and retraced towards $92,000 again. It then saw a notable increase to $99,200 and almost touched $100,000, but was rejected once more. As a result, Bitcoin is struggling below $96,000, with its market capitalization falling below $1.9 trillion and its dominance over altcoins increasing to 54.6%. Ethereum and other altcoins also faced declines, with the cumulative market capitalization of all cryptocurrencies losing over $100 billion and dropping to $3.460 trillion.
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