Bitcoin (BTC) Price Unstable at $67K, Altcoins Turn Red (Market Watch)

Bitcoin’s price dropped below $67,000 on a few occasions in the past 24 hours but has reacted well to each correction and now sits at that line once again.
The altcoins are slightly in the red on a daily scale, with TON, ADA, and SHIB retracing by around 3%.
BTC Goes Down and Up
It was less than a week ago – last Tuesday – when the primary cryptocurrency’s price had declined to just over $61,000 amid some Coinbase issues. However, the asset bounced off almost immediately and started a notable rally on Wednesday after the US CPI numbers were announced.
In a matter of hours, BTC jumped by several grand and exceeded $66,000. It corrected on Thursday to just under $65,000 but reversed its trajectory once again by the end of the week.
This culminated in a couple of price pumps above $67,500, the latest of which came on Sunday. However, the bears intercepted the move and pushed BTC down to just under $66,000. A bit more volatility followed with another brief decline, but bitcoin currently stands close to $67,000 once again, being down less than 0.5% in a day.
This means the cryptocurrency’s market cap remains around $1.320 trillion, and its dominance over the alts is close to 52%.
Bitcoin/Price/Chart 20.05.2024. Source: TradingView
Alts See Red
Most altcoins have mimicked BTC’s performance in the past 24 hours, posting minor losses. ETH is close to breaking below $3,100 after a 0.4% daily decline as anticipation for the SEC’s decision on Ethereum ETFs grows. Binance Coin has decreased by a similar percentage to $576.
More losses from the larger-cap alts come from XRP, DOGE, AVA, DOT, TRX, and BCH, while TON, SHIB, and ADA are down by 2.5-3%.
In contrast, Solana’s native token has jumped by 2.5% and sits close to $180. WIF, PEPE, NEAR, and GRT are also slightly in the green.
The total crypto market cap has shed some value since yesterday and is just under $2.550 trillion on CG now.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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