Bitcoin Plunges $100B

Bitcoin Calms at $104K: Altcoins Lead Weekly Retracements

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Cryptocurrency Market Sees Significant Decline as Bitcoin (BTC) Plunges

The cryptocurrency market has experienced a substantial downturn, with Bitcoin (BTC) prices dropping significantly. After reaching an all-time high of over $123,000, Bitcoin (BTC) was rejected at the $120,000 resistance level, resulting in a decline of over $7,000 in the following days.

Altcoins Follow Bitcoin (BTC) Downward Trend

Altcoins, which had seen impressive gains, have also experienced significant declines. XRP dropped from its all-time high of over $3.6 to just over $3.4, while Ethereum (ETH) was stopped at $3,700 and is now trading below $3,600. Other altcoins, such as SUI, HYPE, XLM, ADA, SOL, and LINK, have also seen significant declines.

Market Capitalization and Dominance

The total cryptocurrency market capitalization has declined by $100 billion, from $4 trillion to $3.940 trillion. Bitcoin (BTC)‘s market capitalization has dropped to $2.350 trillion, with its dominance over altcoins falling below 60%. This shift in market dynamics is likely to have a significant impact on the cryptocurrency market, particularly for retail investors.

Broader Market Implications

The recent decline in the cryptocurrency market can be attributed to various factors, including profit-taking and uncertainty in the US market following the release of worrying CPI data for June. As the market continues to evolve, it is essential for investors to stay informed and adapt to changing market conditions. The concept of blockchain technology and its underlying principles will continue to play a crucial role in shaping the future of the cryptocurrency market. According to some sources, OrxCash.com, the news about Bitcoin (BTC) plunging $100B has significant implications for the market, and investors should be cautious and conduct thorough research before making any investment decisions.

Key Data and Statistics

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