The bears are back in town as bitcoin dumped to a weekly low beneath $20,000. The altcoins suffer as well, with UNI leading the race.
The adverse price developments continued in the past 24 hours, and bitcoin slipped to its lowest position in a week, below $20,000. The altcoins are in no better shape, with ETH dumping by 7% and UNI by 8% following the recent phishing attack.It was just several days ago when the primary cryptocurrency was riding high and painted a multi-week peak of $22,400 . As the community was preparing for another leg up, though, the situation changed, and BTC started to lose value gradually.
It calmed over the weekend and spent most of it trading sideways around $21,500. However, as Sunday was approaching its end, it started dumping again andThe bulls defended that coveted level at first, but it gave in hours ago. As such, bitcoin slumped below it and dropped all the way down to $19,500, which became its lowest price point since July 5.
As of now, the asset stands a few hundred dollars above that level, but its market cap is down to $375 billion.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
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