Bitcoin failed to reach the $43,000 price level last weekend, and the subsequent rejection pushed it to a 5-day low, just below $41,000.
Altcoins also experienced the same situation as they traded in the red and the price of the SOL crypto asset fell to the $70 level. On the other hand, the crypto assets Cardano and Avalanche fell more than 5%. Last Monday, the market was shocked by a massive price drop that cost major cryptocurrencies more than $3,000 in a matter of hours. A day later, the price of Bitcoin continued to fall to $40,250.
On Wednesday, market players were back in action by buying and indirectly pushing BTC price above $43,000 on Wednesday. The US CPI data and the subsequent FOMC meeting did not bring much volatility in the middle of the week, but Ledger's vulnerability led to an immediate price drop to the $41,500 level.
BTC eventually managed to recover most of the losses and over the weekend BTC managed to recapture about $42,000. It tried to top $43,000 on Saturday but failed. The resulting rejection pushed the price of BTC down to $40,750 a few hours ago.
At the time of writing bitcoin was trading at a price level of $41,171.89, but the capital market has declined to $805 billion. Its dominance over altcoins, however, increased to 52% at CMC. Bigger daily declines in altcoins came from Ripple, Dogecoin, Polkadot, and Polygon. Solana has lost 5% and is now below $70.
Cardano and Avalanche have declined the most of the altcoins with larger market capitalizations. ADA is down 6%, while AVAX has lost 9% of its value and is trading below $40.
