The cryptocurrency market experienced significant declines over the past day, with Bitcoin reaching a new four-week low at around $65,500. The token HASH and the protocol AAVE led the losses among major altcoins, despite a volatile surge from the AI-linked altcoin SIREN. Ethereum and other large-cap assets also dropped, contributing to a reduction in the total market capitalization.
Bitcoin’s attempted breakout earlier this week was halted at $72,000 before falling sharply. It dropped to a local low of $65,500 on some exchanges, marking its first dip to that level since the start of the month. This represented a decline of over $6,000 in just 48 hours.
Most larger-cap altcoins followed Bitcoin downward, with Ethereum dipping beneath $2,000. XRP was testing the $1.30 support level, while BNB went down to $610. The total crypto market cap shed approximately $60 billion and was reported at $2.37 trillion.
The AI-linked altcoin SIREN posted enhanced volatility amidst community scrutiny. It surged over 100% in the past 24 hours to above $1.60, however. Still, it’s more than 50% down from its $3.60 all-time high marked earlier in the week.
In contrast, the tokens AAVE and HASH declined the most over the past day, dropping by 5% and 9% respectively. Most larger-cap altcoins remained sluggish on a daily scale, while a few such as BCH and CC registered gains exceeding 3%.
