Uniswap

Jerome Powell

Chair

Bitcoin

Chainlink

Bitcoin briefly exceeded $65,000 yesterday, but the subsequent rejection pushed it south hard by over two grand, and the asset is well below $63,000 now.
This correction has impacted several altcoins even worse, with UNI, LINK, TON, and others losing more than 4% daily.
<h2 id="btc-under-63k">BTC Under $63K</h2>
The previous business week went mostly sideways for BTC as it remained below $60,000 for most of it. However, that all changed on Friday after<a href="https://cryptopotato.com/is-this-why-bitcoin-btc-exploded-by-5k-in-24-hours/" data-wpel-link="internal" rel="noopener noreferrer nofollow"> two positive developments</a> in the US. First, Fed Chair Jerome Powell asserted that the time to cut interest rates has come, with most experts anticipating a slash in September.
Then, RFK dropped out of the 2024 US presidential elections and publicly endorsed the self-proclaimed ‘pro-crypto’ choice – Donald Trump. Both these news propelled an impressive rally for bitcoin, as it shot up by over four grand by Saturday morning.
After a relatively quiet weekend, BTC went on the offensive on Monday morning as well but was quickly <a href="https://cryptopotato.com/btc-price-stopped-at-65k-fet-and-other-ai-tokens-skyrocket-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">halted</a> at just over $65,100. Since then, the cryptocurrency has lost more than two grand and now struggles below $63,000 despite the <a href="https://cryptopotato.com/bitcoin-etfs-still-seeing-solid-inflows-as-ethereum-etf-exodus-continues/" data-wpel-link="internal" rel="noopener noreferrer nofollow">positive inflow streak</a> for the US spot Bitcoin ETFs.
Its market capitalization has declined by $20 billion in a day to $1.240 trillion, but its dominance over the alts stands inches away from 54% on CG.
<figure id="attachment_356248" aria-describedby="caption-attachment-356248" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-356248" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24.png" alt="Bitcoin/Price/Chart. 27.08.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-24-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-356248" class="wp-caption-text">
 Bitcoin/Price/Chart. 27.08.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="alts-bleed-out">Alts Bleed Out</h2>
Most altcoins have turned red today, with Uniswap and Chainlink leading the adverse trend from the larger caps. UNI Has dumped by just under 6%, while LINK has lost 6.4% in the past 24 hours. As a result, the former is below $6.2, while the latter is under $12.
Cardano, Bitcoin Cash, Polkadot, Tron, Dogecoin, and Toncoin have declined by somewhere between 3-4%. ETH, BNB, SOL, XRP, and AVAX are also in the red, albeit in a less painful manner.
The cumulative market capitalization of all crypto assets has seen over $50 billion gone in a day, and is down to just under $2.3 trillion now.
<figure id="attachment_356251" aria-describedby="caption-attachment-356251" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-356251" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1880" height="825" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045.png 1880w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045-300x132.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045-1024x449.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045-768x337.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045-1536x674.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-27-115045-50x22.png 50w" sizes="(max-width: 1880px) 100vw, 1880px"></a>
 <figcaption id="caption-attachment-356251" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/these-altcoins-bleed-out-the-most-as-bitcoin-btc-slips-below-63k-market-watch/" rel="noopener noreferrer nofollow">These Altcoins Bleed Out the Most as Bitcoin (BTC) Slips Below $63K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

These Altcoins Bleed Out the Most as Bitcoin (BTC) Slips Below $63K (Market Watch)

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