Bitcoin experienced continued adverse price movements, sliding to $80,400 earlier in the morning following a rejection at $85,000 on Wednesday. The downward movement may have been influenced by comments from Donald Trump regarding the war against Iran. Despite the recent volatility, bitcoin remained above $80,000, registering a 1% daily decline with a market capitalization of $1.620 trillion and a dominance rate of 60% on CoinMarketCap.
Earlier in the week, the cryptocurrency market experienced intense volatility following the release of Consumer Price Index (CPI) and Producer Price Index (PPI) data. After retreating below $80,000, bitcoin attempted a rebound and approached a two-week peak of nearly $85,000 on Wednesday. However, the rally was short-lived as bears took control of the market, driving the asset to its lowest level in about ten days.
Altcoins in the Red
Most major altcoins followed bitcoin's downward trajectory. Ethereum (ETH) dropped further below $2,400, while Ripple's native token (XRP) fell over 2% to lose the key $1.30 support level after nearing $1.40 earlier in the week. Other notable decliners included Solana (SOL) nearing the $100 threshold, Zcash (ZEC) dropping below $1,200, alongside losses in Monero (XMR), Stellar (XLM), Chainlink (LINK), Litecoin (LTC), and Near Protocol (NEAR).
Worldcoin (WLD) recorded a double-digit percentage decline as one of the hardest-hit assets. Conversely, M stood as a major exception, defying the broader market trend with a 10% surge. The total cryptocurrency market capitalization decreased by over 1% daily to $2.7 trillion.
