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The market has faced a significant drop at the end of this week. Amid Pepe’s 14% decline, Bitcoin bounced back to $68,000.
PEPE was on the rise until today. But now it is in double digits.
Bitcoin stopped at just over $70,000 earlier this week. Since then, it has not been able to resume its upward movement. This currency even dropped to 67,000 dollars yesterday.
Altcoins are also pulling back, with SHIB, DOT, DOGE, PEPE and WIF losing a significant percentage of their dollar value overnight.
Ethereum ETF breaking news from last week put the major cryptocurrency on a wild ride that included a massive rally to nearly $72,000 and a subsequent rejection and drop to $66,400 just a few days later.
However, when these financial products actually went green on Thursday, Bitcoin started to recover. BTC started the week around $69,000.
Monday was even more promising. As the bulls started to move, Bitcoin skyrocketed to a multi-day high of just over $70,500. However, this is where the trend turned and Bitcoin began to lose its value rapidly. Just a few hours later, it fell below $67,500.
But then another comeback followed. But this scenario was repeated and Bitcoin reached its lowest level of several days, i.e. $67,200, late last night. Bitcoin has failed to recoup most of the losses and is now once again below $68,000.
The market value of Bitcoin has decreased to 1.330 trillion dollars. But its dominance of the altcoin has reached 50.2% with a 0.5% increase in one day.
As reported a few days ago, the two top performing assets from the memecoin market were PEPE and WIF. The former continued to climb and set another all-time record. while the latter gained more momentum with a double-digit increase.
Now the landscape is completely different. Because PEPE has dropped by 14% in one day. WIF has also decreased by more than 11%. Other altcoins with a bigger market in the red include SHIB (-7%), DOT (-5%), DOGE (-4.5%), SOL (-3%), NEAR (-4.5%) and more.
Binance Coin missed the $600 level after a 1% daily drop, while Ethereum fell 2% to $3,750.
The total value of the crypto market has fallen by more than $60 billion overnight, and in CG it has fallen to $2.650 trillion.
