28.05.2024

Crypto Markets Continue Experiencing Slump, BTC Dips Below $10,000

Total market cap is down as well, around $430 bln by press time, down from last week when it broke $500 bln.

Crypto markets have continued their slump, with Bitcoin (BTC) briefly dipping below $10,000 today, Feb. 22, and altcoin Ethereum (ETH) edging closer to $800, according to data from CoinMarketCap.

Bitcoin is currently trading a little over $10,000, down almost 7 percent over a 24-hour period by press time.

Cointelegraph reported Wednesday that Bitcoin’s tolerance had seen a monthly high of 34.9 percent, a high barely broken today with CoinMarketCap data showing a 39.5 percent BTC dominance.

Ethereum is down 4 percent over a 24-hour period, trading around $810 by press time.

Altcoin Ripple (XRP) has seen a large dip this week as well. After Saturday, Feb. 21’s, high of $1.21, Ripple is currently trading at around $0.93, down almost 10 percent over a 24-hour period by press time.

After the Feb. 20 launch of Venezuela’s oil-backed government cryptocurrency, the Petro, Twitter user dark pill pointed out that the unrelated and “abandoned” cryptocurrency PetroDollar (XPD) briefly saw a price rise on CoinMarketCap potentially due to a similarity in name.

XPD is now down by a little more than 34 percent over a 24-hour period by press time, trading for around $0.03.

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