Crypto markets lose $140 billion as Bitcoin (BTC) sheds $4,000 after latest peak (Market Watch)

After several days in a row of seeing mostly gains and charting new highs, bitcoin has finally recovered by dropping more than four thousand in the last 12 hours or so.

Altcoins have followed suit, with notable price drops evident by ETH, DOGE, ADA, TRX, AVAX and more.

BTC falls by $4,000

The major cryptocurrency bounced off its $94,400 low last weekend and began a massive run that culminated yesterday. During that rally, it topped $100,000 on Thursday and has remained in six-figure territory for nearly the entire time since then.

After a slightly sluggish weekend spent around $101,500, the asset returned to the offensive on Monday morning and especially on Tuesday. At the start of the work week, it soared to $106,500 and continued to climb on the second day to just over $108,000, which became its latest all-time high.

However, after making approximately $14,000 in one week, it seemed inevitable that there would be a correction. This happened over the last 12 hours or so, as BTC poured over four thousand and is now trading just inches above $104,000.

Its market capitalization has calmed down to $2.06 trillion in CG, and its dominance over the alts is up to 54%.

Bitcoin/Price/Chart 18.12.2024. Source: TradingView Highs in Retrace Mode

As is often the case when BTC heads in any direction, altcoins follow suit. Ethereum is down 4% to just over $3,850, XRP is down 2.5% to $2.52, and so is SOL, which is struggling at $216.

Further losses came from ADA, TRX, AVAX, SHIB, TON, SUI, XLM, DOT and APT, with price drops of up to 9%. PEPE is also down a lot, currently struggling to stay above $0.0000215.

The cumulative market cap of all crypto assets approached $4 trillion yesterday, but has shed about $150 billion since then to just under $3.850 trillion now.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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