Bitcoin dropped to a two-week low below $67,500 on March 23, pressured by geopolitical tensions, while the altcoin SIREN continued its remarkable, independent rally with consecutive double-digit gains. The broader cryptocurrency market followed Bitcoin’s downturn, with most major altcoins recording losses and the total market cap falling by approximately $200 billion from its recent peak.
Bitcoin’s price correction worsened as the asset fell below $67,500 for the first time since March 9. This decline followed latest developments on the Middle East front from the weekend, which reversed a previous rally that had seen Bitcoin tap a six-week peak near $76,000.
Most larger-cap alternative coins followed suit, posting 2-3% losses within the same timeframe. In stark contrast, SIREN continued to operate under its own rules, posting another double-digit surge in the past day.
The AI-focused altcoin operating on the BNB Chain has posted mind-blowing gains, up by a staggering 1,230% over the past month. It marked its latest all-time high at over $3.60 earlier on March 23 before retracing to approximately $3.
Major assets like Ethereum, XRP, Solana, Dogecoin, and Cardano dropped by around 2-3% daily. The total cryptocurrency market cap now struggles to remain above $2.4 trillion, representing a $200 billion decline since last Tuesday’s high.
