Bitcoin’s price continues to plummet, with the cryptocurrency hitting its lowest point in April at $27,000.
Altcoins have suffered even more with Dogecoin experiencing a sharp drop while APT and OKB have dumped significantly from mid-cap alts.
Bitcoin’s April Low
On April 10, the leading cryptocurrency skyrocketed to more than $30,000 for the first time since June of 2020. Later that week, on April 14, it hit its highest price point at just over $31,000. The following week was less volatile with Bitcoin staying at around $30,000 for most of it. However, things changed on April 19 when the asset plummeted within hours to $29,000. The situation worsened in the next few days with BTC dropping to $28,000 before hitting its lowest point at $27,100 earlier today.
As of now, Bitcoin trades just above $27,000, 3% down on the day and over 10% down on the week. Its market capitalization has declined to under $530 billion after reaching $600 billion a few days ago. Its dominance over alts is close to 46%, having taken a breather.
APT, OKB, DOGE Drop Hard
As is typical, when BTC falls so do most of the alternative coins, Ethereum being a prime example. Ethereum was trading above $2,100 less than a week ago after the completion of the Shapella update. However, it has lost over $250 since then and now trades at $1,850 after a 4% daily decline.
Similar drops were seen with Binance Coin, Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, and Shiba Inu. Dogecoin experienced the greatest decline among the top 10 alts, dropping 7%. Consequently, DOGE currently trades below $0.08.
Further losses have been felt from Avalanche (-7%), Chainlink (-6%), ICP (-6%), FIL (-6%), GRT (-7%), among others. Aptos and OKB have seen the highest plummet, dropping over 9% each to $10 and $48, respectively.
The cryptocurrency market cap has dropped another $30 billion and now sits at $1.150 trillion, having lost over $130 billion in the past few days.
