These Altcoins Dump the Most as Bitcoin (BTC) Dropped Below $68K (Weekend Watch)

This weekend marked a significant shift in the cryptocurrency market as Bitcoin (BTC) experienced notable volatility, primarily trending downward.

• Several altcoins have faced even steeper declines, with notable drops exceeding 5% for cryptocurrencies like DOGE, APT, and WIF.

BTC Falls Below $68K

The week commenced positively for Bitcoin, which surged from $67,500 to over $71,500 on Monday and Tuesday morning. The bullish momentum continued, propelling BTC to a peak of $73,600 later on Tuesday. However, as BTC approached a new all-time high, the trend reversed, leading to a decline to $72,000 by Wednesday.

• Further losses followed, with Bitcoin dropping to $68,800 on Thursday and Friday.
• Although it rebounded to $71,600 briefly, it faced rejection and fell again, hitting a weekly low of under $68,000 earlier today.
• Currently, BTC is trading near $68,500, reflecting a 2% decrease for the day and a market cap of $1.350 trillion. Its dominance over altcoins has increased to 56.6%.

Altcoins Experience Significant Losses

The entire altcoin market has turned red, with Ethereum (ETH) and Binance Coin (BNB) both experiencing around a 3% drop.

• ETH is now trading below $2,450, while BNB is nearing the $560 mark.
• Other cryptocurrencies like SOL, XRP, TRX, TON, LINK, and BCH have also shown declines.

The most significant losses among larger-cap altcoins include:

• Cardano (ADA): -5%
• Avalanche (AVAX): -6%
• Dogecoin (DOGE): -7.5% (the largest loser among major altcoins)

Additional notable declines include:

• BRETT: -9%
• PYTH: -8%
• MEW: -8%
• ICP: -7.5%
• APT: -7%

The total cryptocurrency market cap has decreased by approximately $60 billion overnight, now sitting below $2.4 trillion.