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Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
<h2 id="btc-s-troubles-keep-coming">BTC’s Troubles Keep Coming</h2>
The primary cryptocurrency lost the coveted $60,000 level last week, and the true <a href="https://cryptopotato.com/bitcoin-btc-dropped-to-new-monthly-low-as-alts-bleed-out-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">downfall</a> followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC <a href="https://cryptopotato.com/bitcoin-price-reacts-to-us-jobs-report-and-declining-unemployment-rate/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reacted</a> quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it <a href="https://cryptopotato.com/150m-in-liquidations-as-bitcoin-btc-price-falls-2-5k-in-minutes/" data-wpel-link="internal" rel="noopener noreferrer nofollow">plummeted</a> to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
<figure id="attachment_358666" aria-describedby="caption-attachment-358666" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-358666" src="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8.png" alt="Bitcoin/Price/Chart 07.09.2024. Source: TradingView" width="3030" height="1478" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8.png 3030w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8-300x146.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8-1024x499.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8-768x375.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8-1536x749.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8-2048x999.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/BTCUSD-8-50x24.png 50w" sizes="(max-width: 3030px) 100vw, 3030px"></a>
 <figcaption id="caption-attachment-358666" class="wp-caption-text">
 Bitcoin/Price/Chart 07.09.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="alts-in-red-yet-again">Alts in Red Yet Again</h2>
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
<figure id="attachment_358668" aria-describedby="caption-attachment-358668" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-358668" src="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="3122" height="1492" srcset="https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810.png 3122w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810-300x143.png 300w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810-1024x489.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810-768x367.png 768w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810-1536x734.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810-2048x979.png 2048w, https://cryptopotato.com/wp-content/uploads/2024/09/Screenshot-2024-09-07-093810-50x24.png 50w" sizes="(max-width: 3122px) 100vw, 3122px"></a>
 <figcaption id="caption-attachment-358668" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/these-altcoins-bleed-out-as-bitcoin-btc-price-fell-by-4k-in-hours-weekend-watch/" rel="noopener noreferrer nofollow">These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)

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