NaijNaira
Bitcoin’s strong rebound lost momentum over the weekend as prices slipped from the $118,000 high to nearly $115,200 in early Saturday trading – www.naijnaira.com reports.
Data from CryptoPotato shows the decline erased over $50 billion from the global crypto market cap within a day.
Traders watched closely after the Federal Reserve announced a long-awaited interest rate cut midweek, an event that initially helped BTC surge toward a multi-week high.
Markets reacted calmly at first, but Bitcoin rallied on Thursday morning and touched $118,000 before meeting resistance.
That gain of more than $7,000 compared to last week’s dip didn’t last long, with strong selling pressure forcing the asset back below $116,000.
Despite the drop, Bitcoin’s total market value has stayed above $2.3 trillion, while its dominance continues to hover just under 56%.
Ethereum joined the weekend slump, plunging under $4,500, while Dogecoin lost more than 3% and Chainlink shed about 5%.
Ripple is still struggling around the $3 support zone, and Solana, Avalanche, and Sui also dipped into losses.
Smaller tokens faced harsher declines, with M crashing by 16% to $2.2, MYX losing 12%, and PENGU dropping 7%.
The combined value of all digital assets now stands at about $4.14 trillion, marking one of the sharpest single-day cuts in recent weeks.
