As BTC fell below $97,000, ADA, DOGE, and SOL experienced another significant drop.

After surging to $100,000 yesterday, the price of Bitcoin has once again experienced a downward trend as the asset has lost over $3,000 since then.

Shitcoins are also deeply in loss, the prices of many shitcoins such as SOL, DOGE, ADA, AVAX, LINK, SHIB, etc. plummet every day.

Short-term recovery of BTC

Despite a strong start for BTC this week, with its price surging from $101,000 to a record high of over $108,000 on Tuesday, the situation actually worsened after the latest US FOMC meeting on Wednesday.

The major cryptocurrencies have started a sharp correction and peaked on Friday, with prices plummeting to around $92,000. As a result, the asset lost over $16,000 in just 72 hours.

At this point, the bulls have finally succeeded in stopping the free fall and helping BTC climb to $95,000. On Saturday morning, Bitcoin continued to rise, jumping to $99,600. Just as the community was preparing for the possibility of challenging the six-figure mark, Bitcoin's trajectory reversed.

BTC once again began to depreciate, falling to just under $96,000 a few hours ago. Although it has now exceeded that line, Bitcoin is still down 2% for the day.

Its market value is difficult to maintain above $1.9 trillion, and its dominance in altcoins has risen to 55% as most altcoins have suffered greater losses.

Shanzhai coin returns to the red

The brief relief of yesterday was thwarted as the altcoin market turns red again. Ethereum failed at $3,500 and fell to $3,350 after a daily decline of 3.5%. XRP stalled below $2.4 and has now dropped to $2.24.

The daily declines of SOL, DOGE, ADA, AVAX, LINK, SHIB, XLM, DOT, HBAR, APT, ICP, AAVE, and CRO are even more severe, with APT dropping as much as 11%.