The new tariff threats from the weekend, alongside the potential US government shutdown, led to further losses for BTC, which dropped to a five-week low at $86,000.
Most altcoins are in the red once again today, aside from RIVER, which tends to make its own trading rules these days.
BTC Dips and Bounces
It was a week ago when the primary cryptocurrency began its latest correction that drove it from over $95,500 to $92,000 in just a few hours after most traditional financial markets opened. The situation worsened in the following days, and bitcoin slipped to $87,000 on Wednesday.
Trump’s reassurances that he wouldn’t use force to take over Greenland resulted in a relief rally and more volatility of up to $91,000 and back down below $90,000. Overall, though, the bears seemed to be in control even during the relatively quiet weekend in which BTC remained at around $89,000.
On Saturday, Trump threatened to impose 100% tariffs on Canada if the country signs a full-on open trade deal with China. Reports emerged claiming that the US government might shut down after the unrest in some states.
BTC nosedived following these developments to its lowest price level since December 19 at $86,000 on Sunday evening. Nevertheless, it recovered some ground and now sits close to $88,000. Its market cap is down to $1.750 trillion, while its dominance over the altcoins is stable at 57.5%.
RIVER’s World
The chart below will clearly demonstrate the dire state of the altcoins. Ethereum lost the $3,000 support last week, but it’s now down below $2,900. BNB has slipped beneath $875, while XRP is under $1.90. SOL, ADA, and XMR have declined the most from the larger-cap alts. CC has plunged by almost 7% daily, followed by MNT’s 5% decrease.
At the same time, RIVER continues to amaze. The asset has soared by 40% daily, 230% weekly, and a whopping 2,100% in the past month. It now trades at $84, with a market cap of over $1.6 billion.
Nevertheless, the total crypto market cap has fallen to $3.050 trillion on CG, after losing another $30 billion daily.
The post RIVER Surges Another 40% as BTC Recovers From a 5-Week Low: Market Watch appeared first on CryptoPotato.