Bitcoin failed to break through $29,000 and subsequently dropped by almost $1,000. Most alternative coins have also turned red, with DOGE, LDO, and ARB dropping hard. Bitcoin had jumped to over $28,000 before the bulls initiated another leg-up that brought it up to $28,800, but the situation reversed, and BTC started losing value once again. As of now, the cryptocurrency is trading at just under $28,000, with a market cap of $540 billion and dominance over the altcoins at 45.7%. Dogecoin leads the adverse trend from the top 10 assets with a 6% slump, while LDO and ARB are the other more notable losers from the larger-cap alts. Overall, the cumulative market cap of all crypto assets has seen roughly $30 billion gone in a day and is down below $1.2 trillion.
(By Jordan Lyanchev)
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