Altcoins
Bitcoin Slides Toward $60K as Altcoins Run Out of Stock (Weekend Watch) — TradingView News
Cryptocurrency markets are declining today on relatively low trading volumes. Bitcoin is sliding towards $60K and most altcoins are slowly losing value.
Total market cap fell to $2.37 trillion. Bitcoin price slides toward $60,000
Bitcoin price has traded down 1.3% over the past 24 hours, bringing total losses to around 6% for the week.
At the time of writing, the leading cryptocurrency is sliding towards $60,000 as trading volume across the board is relatively low.
In the last 24 hours there has been a total of liquidations worth 100 million dollars, with BTC in the lead (as almost always) with 37 million dollars. Altcoins are running out of resources
Many of the large-cap altcoins are also seeing small declines. For example, ETH is down 1.8% on the day, BNB – 1.6%, SOL – 2.5%, TON – 1.7%, and so on.
Others drop more consistently, such as UNI, which fell by 6%.
Meme coins, an interesting category in the cryptocurrency market, also recorded similar losses. The cohort, as a whole, is down more than 3% in the past 24 hours, with DOGE and SHIB down 1.3%.
PEPE fell 5.2%, while BON fell 3%.
Overall, the worst performer today was Lido’s governance token LDO, which lost 15%. Ethena’s ENA is down 9.2%, followed by Starknet’s STRK, which is down 6.4%.
At the other end of the spectrum, the best performer is Quant’s QNT token, which is up 10% on the day. Arweave’s AR is second best, up 4%.
That said, overall trading volumes have fallen to around $67 billion over the past day, which is to be expected given it is the weekend. However, it is interesting to see how this relatively narrow range will resolve and whether the bulls will take a stand or whether the correction will deepen.