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#GateSquareAprilPostingChallenge
The total value of the cryptocurrency market has decreased by approximately $100 billion from its peak to its lowest point.
Bitcoin was rejected at $69,200 yesterday and experienced a sharp decline to around $66,000 early this morning following Trump's latest statement that the war against Iran will continue with more attacks.
Altcoins are also in decline; ETH has fallen back to $2,050, while SOL and HYPE each lost over 5%. XRP, however, managed to surpass BNB in market capitalization.
BTC lost $3,000 in value.
Bitcoin's weekly correction began when it was rejected at $72,000 last Wednesday and dropped to $65,600 on Friday. After losing more than $6,000 in just a few days, the asset recovered and stayed above $66,000 throughout the weekend.
On Monday morning, with the opening of some traditional financial markets, it fell to $65,000, the lowest monthly level. Bulls finally stepped in at this point and prevented further decline. Instead, BTC gained some momentum and jumped to $69,200 yesterday despite increased volatility caused by conflicting reports about the war in the Middle East.
However, then Trump delivered a speech expected to de-escalate tensions in Iran. But the reality was quite the opposite; Trump said the conflict is likely to intensify, and Bitcoin lost $3,000 from its yesterday's peak, falling slightly above $66,000.
Since then, it has somewhat recovered but is still trading below $67,000, and its market cap on CG has dropped to $1.335 trillion. Its dominance over altcoins is over 56%.
Altcoins are also experiencing significant daily declines. Ethereum has lost over 3% and is currently at $2,050. SOL, HYPE, LINK, and AVAX each declined by 5-6%, while BCH, ADA, and DOGE each lost about 3-4%.
XRP also fell by approximately 3%, but managed to surpass BNB in market cap. There are also double-digit gains, but green is not very visible today. STABLE and ALGO increased by over 19% in a single day.
The total value of the cryptocurrency market has risen to $2.38 trillion after dropping $100 billion from its peak to its lowest point.