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Bitcoin&#8217;s price drops continued in the past 24 hours, with the asset falling below $28,000 for the first time since April 9.
The altcoins are also deep in the red. The total market cap has lost almost $90 billion in the past two days.
<h2 id="btc-slides-under-28k">BTC Slides Under $28K</h2>
Bitcoin was trading <a href="https://cryptopotato.com/radix-xrd-explodes-30-daily-as-bitcoin-fights-for-30k-market-watch/" data-wpel-link="internal">sideways</a> during the weekend, and it wasn&#8217;t until Tuesday that it finally made a move, dropping by a grand to $29,100. However, the bulls quickly intercepted the move and pushed the asset north, which helped it reclaim the coveted $30,000 line.
The landscape started to change shortly after, though, as BTC <a href="https://cryptopotato.com/bitcoin-price-struggles-at-29k-but-pepe-hype-carries-on-market-watch/" data-wpel-link="internal">slumped</a> by a grand in minutes. That was just the start, though, as the bears pushed it further south in the past 24 hours. This resulted in breaking below $28,000 for the first time in almost two weeks.
Despite recovering a few hundred dollars since then, BTC still struggles to maintain $28,000. It&#8217;s roughly 3% down on the day and over 8% on a weekly scale.
Its market capitalization, which tapped $600 billion just days ago, now struggles at way beneath $550 billion. Its dominance over the altcoins, though, has recovered some ground, but it&#8217;s still under 46%.
<figure id="attachment_247418" aria-describedby="caption-attachment-247418" style="width: 1791px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18.png" data-wpel-link="internal"><img class="size-full wp-image-247418" src="https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18.png" alt="BTCUSD. Source: TradingView" width="1791" height="774" srcset="https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18.png 1791w, https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18-300x130.png 300w, https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18-1024x443.png 1024w, https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18-768x332.png 768w, https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18-1536x664.png 1536w, https://cryptopotato.com/wp-content/uploads/2023/04/BTCUSD-18-50x22.png 50w" sizes="(max-width: 1791px) 100vw, 1791px" /></a><figcaption id="caption-attachment-247418" class="wp-caption-text">BTCUSD. Source: TradingView</figcaption></figure>
<h2 id="alts-turn-red">Alts Turn Red</h2>
Similar to bitcoin, most alternative coins have not enjoyed the past few days. Ethereum went on to <a href="https://cryptopotato.com/btc-eth-tap-near-yearly-highs-as-market-cap-eyes-1-3t-market-watch/" data-wpel-link="internal">chart</a> an 11-month high after the Shapella update last week but has since lost over $200. As a result, the second-largest cryptocurrency currently struggles to remain above $1,900.
Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, Shiba Inu, and Avalanche are also deep in the red, with losses of up to 5% in a day. Dogecoin has dumped the most (-8.5%), perhaps due to the asset&#8217;s relationship with Elon Musk. As it became known yesterday, Starship&#8217;s latest rocket exploded shortly after its launch.
With ICP, NEAR, GRT, and many other mid- and lower-cap alts charting substantial losses, the total crypto market cap has dumped beneath $1.2 trillion. This means that the metric has lost roughly $90 billion in the past two days.
<figure id="attachment_247420" aria-describedby="caption-attachment-247420" style="width: 1860px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14.jpg" data-wpel-link="internal"><img class="size-full wp-image-247420" src="https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14.jpg" alt="Cryptocurrency Market Overview. Source: Quantify Crypto" width="1860" height="735" srcset="https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14.jpg 1860w, https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14-300x119.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14-1024x405.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14-768x303.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14-1536x607.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2023/04/Allcoins-14-50x20.jpg 50w" sizes="(max-width: 1860px) 100vw, 1860px" /></a><figcaption id="caption-attachment-247420" class="wp-caption-text">Cryptocurrency Market Overview. Source: Quantify Crypto</figcaption></figure>
The post <a href="https://cryptopotato.com/crypto-markets-lost-90b-in-2-days-as-btc-slips-below-28k-market-watch/" rel="nofollow">Crypto Markets Lost $90B in 2 Days as BTC Slips Below $28K: Market Watch</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Crypto Markets Lost $90B in 2 Days as BTC Slips Below $28K: Market Watch

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