Bitcoin Is Down at $96K; Will This Week's Crypto Correction Get Worse? (Watch the Market)

The price of Bitcoin remains below or around $96,000, and the commodity has failed to start a significant rebound.

The cryptocurrencies are also in poor shape; many, including ADA, AVAX, and XRP, are currently losing 3–4% every day.BTC Continues to Struggle

This has been the case for the last seven days or so. In a week, a lot may happen in the cryptocurrency markets. Bitcoin recorded new gains and soared beyond $108,000 to reach its most recent all-time high just last Monday and Tuesday.

But Wednesday night, following the most recent FOMC meeting, things began to shift. In response, the price of bitcoin immediately fell to less than $100,000, but that was only the beginning. The price continued to tumble over the next few days, reaching $92,000 on Friday.

At this point, Bitcoin was able to halt the decline and even surged to more over $99,000 on Saturday morning. That didn't last long, though, as it dropped to $96,000 on Sunday and is still there now. Given some of the reasons that could affect the price of Bitcoin, the issue now becomes whether the upcoming trading week will be any different.

Bitcoin's market capitalisation is currently $1.9 trillion on CG, and it has just under 55% of the market share of the alts.Alternatives in a Comparable State

Over the past few days, the cryptocurrencies have experienced drops that are comparable to or even more excruciating. Now that XRP, AVAX, ADA, SHIB, DOGE, and ETH are still losing money, the situation is also really bleak. Over the past day, DOT, XLM, SUI, and APT have all experienced further declines.

The only exception among the larger-cap alts with a real, significant price increase is AAVE. Amid the wider decline, the asset has increased by almost 10% and is currently trading at $340.

According to CoinGecko, the total market value of all cryptocurrency assets has dropped to $3.460 trillion.

By including relevant keywords and linking to related articles, the rewritten content aims to provide comprehensive information while enhancing search engine optimization for CryptoTelegraphs.

Join Telegram Channel For Daily New update: https://t.me/cryptotelegraphs_updates