After losing over ten grand within a day, bitcoin’s price movements have calmed in the past several hours, and the asset stands at around $89,000. Many altcoins have turned green now but are still deep in the red compared to the valuations since this weekend. BTC Calms at $89K It was less than a week ago, on Friday when the primary cryptocurrency was preparing for a charge of $100,000 after gaining over five grand since the Tuesday dip. However, no such challenge actually occurred as Bybit was compromised in what became the largest crypto hack ever, with $1.4 billion stolen. BTC reacted immediately with a drop to $95,000 within hours. After recovering some ground during the weekend to around $96,500, the landscape changed for the worse on Monday and especially on Tuesday. Within the span of just 24 hours or so, the cryptocurrency went from $96,000 to $86,000, losing ten grand in the process. This became one of its most violent price corrections and pushed its valuation to the lowest levels in over three months – erasing lots of the gains charted after Trump’s presidential victory. You can check some of the potential reasons behind this crash here . Since then, BTC has been able to rebound slightly and now sits quietly at $89,000. Its market capitalization, which shed over $150 billion in a day, is now at just over $1.760 trillion on CG. Its dominance over the alts has shrunk by almost 1% to 57.9%. BTCUSD. Source: TradingView Alts Bounce-Off The alternative coins suffered even more yesterday, but many have bounced off on a daily scale now. Ethereum, which dumped to $2,300, is up challenging $2,500 after a 4% daily increase. BNB is up to $630, while SOL is above $140. Even more impressive daily gains come from the likes of XRP, which has added 8.5% and sits north of $2.3, DOGE, ADA, LINK, XLM, AVAX, LTCO, SUI, TON, SHIB, HBAR, HYPE, and many others. The total crypto market cap, which went down by over $300 billion within a day, is now above $3.050 trillion after recovering $100 billion. Cryptocurrency Market Overview. Source: QuantifyCrypto The post BTC Price Calms at $89K After Tuesday Massacre, XRP Recovers 8% Daily (Market Watch) appeared first on CryptoPotato .
