Shiba

Cryptocurrency

Solana

Bitcoin

Polkadot

After several days of recovering the recent losses, bitcoin’s price has finally retraced once again, losing the coveted $60,000 line and falling further to under $59,000.
The altcoins have followed suit, with numerous declines from the likes of ETH, BNB, XRP, and especially DOGE and SOL.
<h2 id="btc-down-below-59k">BTC Down Below $59K</h2>
The primary cryptocurrency had a violent start of the previous week. After the harmful weekend in which it dropped to under $57,000, the bears took it a step further last Monday with a price slump to $49,500 – the lowest position in about six months.
Bitcoin started to recover in the following days and even neared $63,000 by Friday. As such, it had added more than 20% of value in just a few days. The weekend was relatively calm as BTC <a href="https://cryptopotato.com/dogecoin-doge-jumps-5-daily-bitcoin-btc-rises-above-61k-weekend-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">remained</a> at around $61,000 after losing some steam on Saturday morning.
The bears seemed to have come out of the woods in the past 12 hours, though. They pushed BTC south once again during the early morning Asian trading session and the asset fell below $60,000.
Furthermore, its retracement continued and it dropped to just over $58,000 earlier. Despite bouncing off slightly, BTC is still more than 4% down on the day as it struggles under $59,000.
Its market capitalization is down to $1.160 trillion, while its <a href="https://cryptopotato.com/bitcoin-dominance-skyrockets-to-3-year-high-as-btc-maintains-60k-weekend-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">dominance</a> over the alts is below 54%.
<figure id="attachment_352932" aria-describedby="caption-attachment-352932" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-352932" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12.png" alt="Bitcoin/Price/Chart 12.08.2024. Source: TradingView" width="1835" height="827" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12-300x135.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12-1024x461.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12-768x346.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12-1536x692.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-12-50x23.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-352932" class="wp-caption-text">
 Bitcoin/Price/Chart 12.08.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="alts-back-in-red">Alts Back in Red</h2>
The alternative coins have posted similar, or in some cases, worse price declines in the past day. Solana leads the pack with a massive 7% drop that has driven it to well below $150. DOGE is next from the larger caps, with a 6% drop to $0.1. Toncoind, Cardano, Shiba Inu, and Polkadot have also declined by around 5% each.
Slightly less painful retracements come from the likes of ETH, BNB, XRP, AVAX, and BCH. However, most mid-cap alts have dumped by around 5-7%.
The cumulative market cap of all crypto assets has seen almost $100 billion gone in a day and is down to $2.160 trillion.
<figure id="attachment_352933" aria-describedby="caption-attachment-352933" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-352933" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1885" height="838" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555.png 1885w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555-300x133.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555-1024x455.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555-768x341.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555-1536x683.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-12-114555-50x22.png 50w" sizes="(max-width: 1885px) 100vw, 1885px"></a>
 <figcaption id="caption-attachment-352933" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/here-are-todays-biggest-losers-as-bitcoin-btc-dumps-below-59k-market-watch/" rel="noopener noreferrer nofollow">Here Are Today’s Biggest Losers as Bitcoin (BTC) Dumps Below $59K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Here Are Today’s Biggest Losers as Bitcoin (BTC) Dumps Below $59K (Market Watch)

Table of Contents

CryptoPotato_News

Other articles published on Aug 12, 2024

Ripple Ordered to Pay $125M in Securities Law Violation Case, Possibly Ending SEC vs. Ripple Conf...

Bitcoin Dips Below $60K as Volatility and Recession Fears Mount

Bitcoin’s Electricity Consumption Drops 24% Amid Growing Sustainability Efforts

Shiba Inu Eyes Potential 354% Gain as It Marks Fourth Anniversary

ICO Whale Transfers $154M in ETH to OKX Amid Gas Fee Dip

PlayFi to Launch Genesis Node Sale Early After 70K Transactions in One Week

Join our free newsletter for daily crypto updates!