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    Home»Cryptocurrency»BTC Plunges to 3-Month Low Beneath $88K, Altcoins Dump by Double Digits (Market Watch)
    Cryptocurrency

    BTC Plunges to 3-Month Low Beneath $88K, Altcoins Dump by Double Digits (Market Watch)

    FintechFetchBy FintechFetchFebruary 25, 2025No Comments3 Mins Read
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    Bitcoin’s price action took a turn for the worse over the past day as the asset plunged below $88,000 for the first time since mid-November.

    The altcoins have performed even worse over the same period, with massive double-digit price declines from ETH, XRP, DOGE, ADA, LINK, AVAX, and many others.

    BTC to Multi-Month Low

    It was just a few days ago, on Friday, when the primary cryptocurrency had not only recovered from the Tuesday dip to $93,500 but also managed to gain some traction and challenge the coveted $100,000 line. However, the hack against Bybit quickly stopped its ascent, and the landscape has only worsened since then.

    Following a calm weekend, in which the asset spent around $96,500, BTC dropped to $94,000 on Monday despite Strategy’s latest multi-billion dollar purchase. That was just the beginning of a violent correction, though, as bitcoin slumped even harder on Tuesday morning to just under $88,000 (on Bitstamp).

    This became its lowest price point since November 15 – or just 10 days after the US elections. As of now, BTC struggles to reclaim the $88,000 level after a rejection at $90,000 minutes ago.

    Its market capitalization has plunged by $150 billion daily and is down to $1.750 trillion on CG. The silver lining is the growing dominance over the alts, as the metric has increased to 58.8%.

    BTCUSD. Source: TradingView

    Alts Freefall

    The growing BTC dominance in times of deep correction means only one thing – the alts have dumped hard. In fact, double-digit price losses are evident from most. Such examples come from Ethereum, which has tumbled below $2,400 after an 11% daily drop.

    XRP, DOGE, ADA, SOL, LINK, XLM, AVAX, LTC, SUI, and many, many others have recorded price drops of more than 10% in the past day. BNB and TRX are among the few with single-digit declines.

    The cumulative market capitalization of all crypto assets has shed more than $300 billion in a single day as the metric is now below $3 trillion on CG for the first time in over three months.

    Cryptocurrency Market Overview. Source: QuantifyCrypto
    Cryptocurrency Market Overview. Source: QuantifyCrypto
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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.



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