Bitcoin Drops Below $30K as Altcoins Tumble; BTC Dominance Reaches 26-Month High

CoinDesk
CoinDesk

28 Jun 2023 8:26 PM

Bitcoin's market cap composes 52% of the total crypto market, its highest level since April 2021....

  • Bitcoin's price dropped below $30,000, causing smaller cryptocurrencies to also decline.
  • BTC's price fell to as low as $29,874, a 2.2% decline in the past 24 hours.
  • Altcoins experienced a sudden sell-off, with 5-10% drops from the previous day.
  • The OP token, ADA, MATIC, and AVAX suffered the largest declines among the top 20 cryptocurrencies.
  • BTC's dominance rate in the total crypto market increased above 52% for the first time since April 2021.

The article describes a negative sentiment as Bitcoin's drop below $30,000 led to a decline in smaller cryptocurrencies. Altcoins experienced a sudden sell-off, and several top cryptocurrencies suffered significant declines. The BTC dominance rate increasing suggests a stronger hold on the overall crypto market.

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You May Ask

What caused the drop in Bitcoin's price?How much did Bitcoin's price decline in the past 24 hours?Which altcoins suffered the largest declines?What is the BTC Dominance Rate, and how has it changed?When was the last time BTC's dominance rate was above 52%?

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