Bitcoin tried its hand at taking down $20,000 but was stopped in its tracks once more and has retraced by almost a grand.
The altcoins are back in red after yesterday’s massive gains. This all came following the bloody Friday on Wall Street.
Bitcoin Stopped at $20K
The primary cryptocurrency was quite calm lately, but that all changed when the US announced the latest CPI numbers. BTC stood at $19,000 before it violently dropped to a multi-week low of $18,200. However, that was just the start of the rollercoaster as the asset skyrocketed by almost $2,000 and touched $20,000 hours later.
This became its highest price tag in about a week but didn’t last for long. Instead of reclaiming that level, the bears came out to play and pushed BTC south hard. As such, the cryptocurrency found itself slipping back down to $19,000.
Its market capitalization has dipped below $370 billion once more, while its dominance over the altcoins has seen a slight correction but still stands north of 40%.