Bitcoin’s adverse price movements continued during the early Saturday hours as the asset slumped to a new seven-week low of just over $107,000.
Many altcoins continue with their sluggish performance, while CRO has resumed its recent run with another surge to well over $0.3.
BTC Dipped to $107K
It has been quite a painful period for the primary cryptocurrency, which intensified last Sunday. At the time, the asset had calmed at $115,000 after suring past $117,000 on Friday evening. However, the bears took complete control of the market as the weekend was coming to an end and propelled a massive decline that drove BTC to a multi-week low of under $111,000.
Although bitcoin tried to recover some ground on Monday, its progress was quickly halted, and it dropped further, this time to a new low of $108,750. The bulls intervened once again and pushed BTC to just over $113,000 on Thursday.
Nevertheless, that was another short-lived rally as the bears initiated another leg down that culminated earlier this morning when bitcoin nosedived to its lowest level since early July of $107,100.
It has bounced off since then and currently trades above $108,500, but it’s still 1% down on the day. Its market cap has dumped to $2.160 trillion on CG, while its dominance over the alts is fighting to remain above 56%.
CRO Back on the Gas Pedal
The biggest gainer of the week was undoubtedly Cronos’ CRO, which skyrocketed following massive adoption news from companies related to the current US President. In just a few days, the asset went from roughly $0.15 to a multi-year peak of $0.38. It dipped below $0.3 yesterday during the market-wide retracement, but it has added over 11% of value daily and is back to over $0.32.
OKB is another recent high-flyer that has resumed its rally, and a 10% daily pump has pushed it to almost $180. Pi Network’s native token has regained some traction, and a 6% surge has driven it to $0.37.
The rest of the larger-cap alts are quite sluggish on a daily scale, with minor gains from ETH, BNB, DOGE, ADA, TRX, and SUI, while XRP, SOL, LINK, HYPE, and XLM are with insignificant losses.
The total crypto market cap has recovered some ground since its low this morning and is up to $3.850 trillion on CG.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
