Bitcoin Nears $60K, Aptos Sees 9% Drop in 24 Hours

The struggles of Bitcoin’s price persisted over the past 24 hours as the cryptocurrency dipped closer to $60,000 for the first time in nearly a week.

Many altcoins have mirrored this trend, with ETH, BNB, SOL, XRP, DOGE, TON, and several others decreasing by approximately 2% daily.

BTC Approaches $60K

The leading cryptocurrency experienced a downturn last Thursday, reaching just below $60,000. However, bulls entered the market, initiating an impressive rally that peaked on Monday morning at $64,500.

This upswing followed a positive conclusion to the previous business week and a relatively quiet weekend. Unfortunately, the asset struggled to maintain its upward momentum and began to slowly lose value.

By Tuesday and Wednesday, it had declined by around three thousand dollars, fighting to stay above $62,000. Earlier this morning, bear pressure intensified, bringing Bitcoin down to a weekly low of $60,250.

Currently, BTC has managed to hold the crucial $60,000 threshold and is trading close to $61,000. Nevertheless, it remains down 2% for the day, with its market capitalization dropping to $1.2 trillion. Its dominance over altcoins, however, remains robust at just over 54%.

APT Takes a Significant Dive

Altcoins have displayed similar performance to BTC over the last day, leading to red dominating the market charts. Major altcoins like ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, LINK, and BCH have all experienced declines of around 2%.

Shiba Inu and SUI have seen drops exceeding 3%, while NEAR has plummeted by nearly 6%. WIF has suffered a similar fate, and APT has significantly dropped by 9% in just one day, falling below $8.4.

UniSwap’s native token stands out as one of the few exceptions today, witnessing a rise of nearly 7% and trading above $7.6.

Overall, the total cryptocurrency market capitalization has decreased by about $50 billion overnight, now sitting at $2.225 trillion according to CG.