The cryptocurrency market experienced broad declines on March 11, with Bitcoin retreating below $70,000 after a failed attempt to hold above $71,800. Most major altcoins followed suit, losing ground amid a market-wide correction. The Internet Computer (ICP) token was a notable exception, soaring by 12% following its listing on the major Korean exchange Upbit. The Pi Network’s PI token also gained approximately 6%, standing out in a predominantly negative trading session.
Bitcoin’s price briefly climbed above $70,000 but was rejected at $71,800. The asset now trades over $2,000 below that local peak as its market dominance slips below 57%.
Most larger-cap altcoins are also in the red today. Ethereum continues to fight to maintain its position above the $2,000 level, while BNB has declined to around $640.
XRP has lost the $1.40 support level. Chainlink has declined the most among the larger-cap altcoins, followed by Solana and Cardano.
Further losses are evident from Zcash, Tau, Sky, and Uniswap. ICP and PI are among the few exceptions with notable gains today following a listing by Upbit.
The total crypto market capitalization has decreased by around $50 billion daily to $2.450 trillion. This reflects the widespread downturn across the sector, offset only by isolated positive performances.
