Bitcoin’s price recovery attempts that began last weekend took it to just over $93,000 on Friday, but the asset met an immediate resistance there and was driven south by three grand.
Most larger-cap alts are also in the red on a daily scale, with some notable price declines from the likes of PUMP, SOL, and ADA.
The price calamity on November 21 drove bitcoin south to its lowest levels since April at under $82,000. This meant that the cryptocurrency had lost over $25,000 in the span of just ten days.
The bulls finally stepped up at this point and helped defend the $80,000 support. In the next couple of days, BTC recovered some ground and stabilized around $84,000. It started to rebound more impressively at the start of the business week and challenged the $88,000 resistance on a couple of occasions.
Although it held at first, BTC managed to break through it on Wednesday evening and jumped to $90,000. It continued its ascent on Thursday and Friday and peaked at just over $93,000 yesterday. After recovering more than $12,000 since its multi-month low, bitcoin faced some resistance and was pushed south to $90,300 earlier today.
It defended that level and now stands around $90,500 as of press time. Its market cap has remained above $1.8 trillion on CG, while its dominance over the alts sits at 57%.
Most altcoins have mimicked BTC’s performance in the past 24 hours, posting some losses. ETH is close to breaking below $3,000 again, XRP is below $2.40, while SOL and ADA have dumped by 3-4%. Even more notable declines come from the likes of SHIB, CC, PUMP, and HASH.
Pi Network’s PI token has lost some of its recent momentum by dropping by 7% in the past 24 hours to well below $0.25. In contrast, M has shot up by more than 16% daily, while QNT is up by 8%.
The total crypto market cap has dropped by $50 billion in a day and is down to $3.170 trillion on CG.
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