Bitcoin Slides Toward $60K as Altcoins Bleed Out (Weekend Watch) – CryptoPotato

The cryptocurrency market is down today due to relatively low trading volumes, with Bitcoin dropping towards $60,000 and most altcoins gradually dropping.

Total capital fell to $2.37 trillion.

Bitcoin price nears $60,000

Bitcoin prices are down 1.3% over the past 24 hours, bringing total losses this week to about 6%.

At the time of writing, the leading cryptocurrency is dropping towards $60,000 due to relatively low trading volumes across the board.

A total of $100 million worth of liquidations took place in the past 24 hours, with BTC (pretty much as usual) leading the way with $37 million.

Altcoins are on the move

Many of the larger altcoins also recorded smaller declines, for example, ETH is down 1.8% in a day, BNB is down 1.6%, SOL is down 2.5% and TON is down 1.7%.

Others, like UNI, saw an even larger drop, down 6%.

An interesting category in the crypto market, meme coins, have also recorded similar declines: the group as a whole is down more than 3% in the past 24 hours, with DOGE and SHIB down 1.3%.

PEPE fell 5.2% and BON fell 3%.

Overall, the worst performers today were Lido’s LDO governance token, down 15%, Ethena’s ENA down 9.2% and Starknet’s STRK down 6.4%.

Meanwhile, the best performer was Quant’s QNT token, up 10% on the day, followed by Arweave’s AR, up 4%.

That said, overall trading volume over the past day has fallen to around $67 billion, which is expected given it is a weekend, but it will be interesting to see how this relatively narrow range resolves and whether the bulls change their tune or the correction deepens.