Crypto Markets Lost $50B Daily as Bitcoin Sharply Rejected at $25K (Market Watch)
Shiba Inu is the only larger-cap alt in the green, while BTC, ETH, BNB, SOL, and many other are deep in the red zone now.
After spiking above $25,000 to a new two-month high, bitcoin was violently rejected at that point and dumped by more than $1,000 in hours.
Most altcoins are also deep in the red today, following the past few days of charting gains. Shiba Inu, though, is among the exceptions.
Bitcoin Stopped at $25K
Ever since the price drop below $23,500 at the end of last week, BTC has been performing rather well. The asset reacted immediately to that decline and neared $25,000 by Saturday.
It failed to breach that level at first and retraced by several hundred dollars. However, it went on the offensive once more on Sunday and, for the first time in over two months, touched that coveted line briefly.
Another retracement followed, but the bulls were determined to keep climbing. As a result, BTC jumped to another multi-month high of just over $25,200.