Bitcoin Dips Below $59k as Market Starts the Week Bearish

Key takeaways

• BTC is down 1% in the last 24 hours and currently trades below $59k per coin. 

• The market remains choppy, with some altcoins recording decent gains.

BTC Slips Below $59k As Market Trend Remains Choppy

The cryptocurrency market is starting the new week in a bearish mode as Bitcoin and some altcoins are currently in the red. Bitcoin, the leading cryptocurrency by market cap, has lost 1% of its value over the last 24 hours.

Thanks to its bearish trend, BTC has dropped below $59k and is currently trading at $58,582 per coin. There is no catalyst behind this bearish performance as the broader cryptocurrency market remains choppy.

While Bitcoin underperforms, some altcoins are currently in the green. Ether, the second-largest cryptocurrency by market cap, is up nearly 1% so far today and is trading above $2,600 again.

Toncoin, the native coin of the TON ecosystem, is the best performer among the top 10 cryptocurrencies by market cap. It has increased 5.5% in the last 24 hours and is trading at $6.89 per coin.

TON’s positive performance comes as the Ton ecosystem continues to gain massive adoption. The upcoming listing of DOGS on several crypto exchanges later this week indicates the network’s growing popularity.

Despite the mixed performance of coins and tokens, the total cryptocurrency market cap is down 0.7% in the last 24 hours and now stands at $2.08 trillion.