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Bitcoin&#8217;s troubles continued for a third straight day, with another price slide, which took it to almost $27,000 this time.
Most altcoins also suffer, with MATIC, SOL, DOGE, and LTC dropping the most. In contrast, LDO and BCH have gone on a tear.
<h2 id="btc-8217-s-new-local-low">BTC&#8217;s New Local Low</h2>
It was just days ago when the primary cryptocurrency had initiated an impressive leg-up that drove it to almost $30,000. However, its <a href="https://cryptopotato.com/pepe-floki-skyrocket-by-double-digits-bitcoin-stopped-ahead-of-30k-weekend-watch/" data-wpel-link="internal">inability</a> to conquer that coveted level meant upcoming trouble.
The bears took control of the market and pushed BTC south to under $29,000. After staying there on Sunday, the landscape started to change for the worse on Monday. As a result, the asset <a href="https://cryptopotato.com/60b-evaporated-from-crypto-markets-as-btc-slides-to-weekly-lows-market-watch/" data-wpel-link="internal">plummeted</a> by another grand.
The past 24 hours brought even more pain for the bulls. Bitcoin went from $28,000 to just over $27,200 in another price drop. It has managed to recover a few hundred dollars since then but is still more than 1% down on the day.
As a result, bitcoin&#8217;s market capitalization has slid to $535 billion. Just for reference, the metric was well above $560 billion on Friday night.
Its dominance over the altcoins has also retreated slightly to just under 47%.
<figure id="attachment_249765" aria-describedby="caption-attachment-249765" style="width: 1834px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7.png" data-wpel-link="internal"><img class="size-full wp-image-249765" src="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7.png" alt="BTCUSD. Source: TradingView" width="1834" height="907" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7.png 1834w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7-300x148.png 300w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7-1024x506.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7-768x380.png 768w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7-1536x760.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/BTCUSD-7-50x25.png 50w" sizes="(max-width: 1834px) 100vw, 1834px" /></a><figcaption id="caption-attachment-249765" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
<h2 id="bch-ldo-defy-market-sentiment">BCH, LDO Defy Market Sentiment</h2>
The altcoins have not enjoyed the past several days, either. Ethereum stood well above $1,900 during the weekend but has dropped below $1,850 as of now. Binance Coin is down from over $340 to $315 as of writing these lines.
Even more losses come from the likes of XRP, DOGE, MATIC, SOL, and LTC. All of those are down by up to 5% in a day.
In contrast, stand Bitcoin Cash and Lido DAO. Both assets have jumped by approximately 7%. As a result, BCH trades at $120, while LDO is above $1.8.
The total crypto market cap, though, has declined once again. The metric, which was over $1.2 trillion days ago, is now at $1.140 trillion on CMC.
<figure id="attachment_249766" aria-describedby="caption-attachment-249766" style="width: 1881px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1.png" data-wpel-link="internal"><img class="size-full wp-image-249766" src="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1.png" alt="Cryptocurrency Market Overview. Source: Quantify Crypto" width="1881" height="883" srcset="https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1.png 1881w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1-300x141.png 300w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1-1024x481.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1-768x361.png 768w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1-1536x721.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/05/Allcoins-1-50x23.png 50w" sizes="(max-width: 1881px) 100vw, 1881px" /></a><figcaption id="caption-attachment-249766" class="wp-caption-text">Cryptocurrency Market Overview. Source: Quantify Crypto</figcaption></figure>
The post <a href="https://cryptopotato.com/btc-dips-below-28k-while-ldo-bch-defy-market-sentiment-with-7-jumps-market-watch/" rel="nofollow">BTC Dips Below $28K, While LDO, BCH Defy Market Sentiment With 7% Jumps (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

BTC Dips Below $28K, While LDO, BCH Defy Market Sentiment With 7% Jumps (Market Watch)

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