XRP Dips Below Crucial Support, BTC Slides Toward $78K: Market Watch

Bitcoin’s price was rejected at $80,000 once again yesterday morning, and the subsequent correction has taken it south by over two grand.

Some of the larger-cap alts, such as HYPE, ZEC, XMR, and LINK, have posted substantial daily losses, while BNB has reclaimed the $750 level.

BTC Down to $78K

The primary cryptocurrency spent the previous weekend trading sideways between $77,000 and $79,000 after that Friday’s rejection at $81,500. It tried to break out on Monday, but it was halted and driven south first to $77,200 and then to $76,400 as the week progressed.

The bulls finally stepped up on Thursday. At first, they helped BTC halt the freefall. Then came the major leg up. In a matter of hours, bitcoin skyrocketed by several grand and surged to a new three-month high of almost $82,500.

However, the same rejection scenario repeated and worsened after the stronger-than-expected US jobs report on Friday. BTC first dipped to $81,300 before the bears drove it south to under $78,800 after the report went live. Nevertheless, it rebounded over the weekend and jumped past $80,400 on Monday morning.

The bears reemerged once again, driving the cryptocurrency south by over $2,000 in the following days. BTC dipped to $78,200 earlier today, and now sits inches above that level. Its market cap has dipped to $1.570 trillion, while its dominance over the altcoins is down to 58.8% on CMC.

XRP Below $1.40

Ethereum is below $2,500 once again after failing at that level on Sunday and Monday. XRP has also slipped below a key support level, currently struggling at $1.39. In contrast, SOL has remained above $100 even after a 1.7% daily decline. BNB has reclaimed $750 after a minor increase.

More profound losses come from the likes of ZEC, XMR, LINK, and HYPE. All of those were on a roll lately and have given up a minor portion of their gains. TAO is down by 6% daily, while DOT has spiked by more than 8%.

PONS has finally retreated after its mind-blowing rally, down by over 10% daily. On the other hand, AERO and PIEVERSE are up by 16% and 14%, respectively.

The cumulative market cap of all crypto assets has declined by around 1% to $2.670 trillion on CMC.