It was a painful week for bitcoin as its price tumbled from over $115,000 last weekend to a monthly low of under $109,000 before it managed to recover some ground on Friday evening, only to be stopped at $110,000.
Although most altcoins have failed to produce impressive increases since yesterday, MYX and XPL have emerged as top performers.
BTC Stopped at $110K
Recall that the primary cryptocurrency shot up to $118,000 last Thursday after the US Fed pivoted from its 2025 monetary policy and finally reduced the key interest rates. However, that rally was short-lived and BTC quickly returned to $115,000-$116,000 for the weekend.
The actual correction, though, was yet to take place. At first, bitcoin slumped by over five grand on Monday and dropped to $112,000. Following another brief recovery attempt, the bears continued to put pressure on the asset at the end of the week.
The culmination, at least for now, occurred on Friday morning when BTC dumped below $109,000 for the first time since the start of the month. It bounced off in the evening trading session and even exceeded $110,000, but it was quickly stopped there and now trades well below that line.
Its market cap has dropped further to $2.175 trillion on CG, while its dominance over the altcoins stands tall at 56.5%.
XPL Rockets
Most altcoins were obliterated during the market-wide crash, and ETH was among the poorest performers. The second-largest crypto asset went from roughly $4,500 to a multi-month low of under $3,900. It recovered some ground and briefly jumped above $4,000 yesterday, but it sits below it now.
On a daily scale, most larger-cap alts are slightly in the green but in a modest manner. More impressive daily gains come from IP, which has rocketed by 14%, WLFI (5%), MNT (5%), and WLD (4%).
The recently launched Plasma (XPL) has gained the most today (22%), followed by MYX’s 18% surge.
The total crypto market cap remains sluggish at $3.850 trillion after losing over $300 billion in a week.
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