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Bitcoin’s price actions took another turn for the worse in the past 24 hours as the asset slumped to a 2-week low of $57,100. 
Most altcoins are also in the red on a daily scale, with TON, DOGE, and ADA dropping by 2-4%. 
<h2 id="btc-sees-57k-drop">BTC Sees $57K Drop</h2> 
It’s safe to say that bitcoin’s latest price actions have been quite underwhelming. It was just a week ago when the asset shot up to over $65,100 to chart a multi-week peak on the heels of the positive developments on US soil a few days back. 
However, it failed to maintain its run and started to lose value gradually on Tuesday and <a href="https://cryptopotato.com/crypto-markets-shed-130-billion-as-bitcoin-btc-slumped-to-9-day-low-market-watch/" data-wpel-link="internal">rapidly</a> on Wednesday. This resulted in a price drop to $58,000 before the bulls initiated a brief recovery that pushed BTC to $61,000 on Thursday. 
However, bitcoin couldn’t shake off the <a href="https://cryptopotato.com/5-bearish-and-4-bullish-factors-for-bitcoin-btc-in-september/" data-wpel-link="internal">predominantly bearish</a> <a href="https://cryptopotato.com/5-bearish-and-4-bullish-factors-for-bitcoin-btc-in-september/" data-wpel-link="internal">setup</a> and dropped to under $58,000 by Friday. It tried to recover some ground during the weekend but to <a href="https://cryptopotato.com/this-weeks-biggest-losers-revealed-as-bitcoin-btc-price-tumbles-to-58k-weekend-watch/" data-wpel-link="internal">no avail</a>. The situation worsened earlier this morning when it dipped to $57,000 for the first time since mid-August. 
Despite bouncing off to just over $58,000 now, BTC is still 9% down on the week. Its market cap is beneath $1.150 trillion, but its dominance over the alts has tapped 54%. 
<figure id="attachment_357456" aria-describedby="caption-attachment-357456" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1.png" data-wpel-link="internal"><img class="size-full wp-image-357456" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1.png" alt="Bitcoin/Price/Chart 02.09.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-1-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-357456" class="wp-caption-text">
 Bitcoin/Price/Chart 02.09.2024. Source: TradingView
 </figcaption>
</figure> 
<h2 id="alts-back-in-red">Alts Back in Red</h2> 
It seems like a repeat these days, but the alternative coins are in the red once again. Ethereum, Avalanche, and Bitcoin Cash have charted losses of under 1%, but SOL, XRP, and BNB are down by just over that percentage. 
Even more pain comes from the likes of DOGE, TON, ADA, SHIB, and LINK, which have all declined by 2-4%. Uniswap’s native token is among the few exceptions with a notable increase. 
The biggest daily losers from the largest 100 alts include BEAM (-7%), FLOKI (-5%), and AAVE (-5%). In the case of FLOKI, the weekly price drop is above 22%. 
The total crypto market cap has shed another $30 billion overnight and is down to $2.120 trillion on CG. 
<figure id="attachment_357457" aria-describedby="caption-attachment-357457" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305.png" data-wpel-link="internal"><img class="size-full wp-image-357457" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1879" height="829" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305.png 1879w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305-300x132.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305-1024x452.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305-768x339.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305-1536x678.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-02-115305-50x22.png 50w" sizes="(max-width: 1879px) 100vw, 1879px"></a>
 <figcaption id="caption-attachment-357457" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure> 
The post <a href="https://cryptopotato.com/bitcoin-recovers-from-a-dip-to-57k-floki-dumps-5-daily-market-watch/" rel="nofollow">Bitcoin Recovers From a Dip to $57K, FLOKI Dumps 5% Daily (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin Recovers From a Dip to $57K, FLOKI Dumps 5% Daily (Market Watch)

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