Bitcoin Slips Below $84k as Altcoins Suffer Bigger Losses

TL;DR

• BTC is down 2% in the last 24 hours and now trades around $83,500.

• Altcoins suffered bigger losses, with most down by 3% or more.

BTC Dips to the $83k Level

The cryptocurrency market was bearish on Tuesday despite a positive start to the week. Bitcoin rallied to the $86k level on Monday but has since retraced and now trades below $84k.

The leading cryptocurrency by market cap lost 2% of its value in the last 24 hours and now trades around $83,500 per coin. There is no catalyst behind the recent bearish performance, as the market might be correcting following its rally over the weekend.

If the bears remain in control, Bitcoin could dip further to grab the 4H liquidity around the $78k level. 

Altcoins suffered bigger losses on Tuesday, with most of them down 3% or more. Ether lost 3.5% of its value and now trades around $1,577 per coin. Cardano’s ADA is the worst performer among the top 10 cryptocurrencies by market cap, losing 5% of its value to trade at $0.6082.

Thanks to yesterday’s bearish performance, the total cryptocurrency market cap has dropped to $2.63 trillion, down 2.3% in the last 24 hours.