Bitcoin failed to break the $29,000 level yesterday, and the subsequent rejection sent it lower. Most altcoins have also turned into the red today, with DOGE, LDO and ARB, plummeting.
The crypto market earlier this week was weighed down by FUD issues regarding Binance prompting a fall to the $27,000 trading level. However, when the CEO of Binance denied claims that he had received a Red Notice from Interpol, and it turned out to be fake news, the cryptocurrency began to regain momentum.
BTC price has surged above $28,000 and is trying to challenge the $29,000 resistance level again. Waima so far has not been able to conquer it and BTC is starting to lose value again, even after the latest purchase of MicroStrategy.
As of now, the cryptocurrency is trading roughly lower as it has just dipped below $28,000. Its market cap has dropped to $540 billion, while its dominance of altcoins is at 45.7%. In fact, the metric has declined nearly 1% in the past week.
Dogecoin led the downtrend with a 6% decline. Nevertheless, this memecoin is still up more than 20%. LDO and ARB are another altcoin that fell significantly. Both assets were down about 5% to $2.53 for LDO and $1.2 for ARB.
Overall, the cumulative market of all crypto assets has seen about $30 billion disappear in a single day and falls below $1.2 trillion.
