Bitcoin Drops Below $39,000 As Crypto Markets Tank Over The Weekend

Cryptocurrency markets were hit by a sudden fall over the weekend, with the global market cap dropping 3.80% in just 24 hours and now sitting at $1.73 trillion. Bitcoin fell by 3.44% in the last 24 hours to $38,168 per coin. The second-largest token by market cap after bitcoin, Ether also showed in red by 4.8% decline. It seems the USDC stable coin is doing better than its counterpart, as it only declined by 0.05 percent in value compared to last day’s movements while USDT saw no difference at all. Related Reading | TA: Bitcoin Resumes Decline, Why BTC Could Revisit $35K The two tokens are pegged to the US dollar, which means they’re incredibly stable. The cryptocurrency market was not immune to the recent slide inequities. For example, the Binance token dropped by 4%. XRP also fell roughly four percentage points over that time period too. The token, Terra Luna, has experienced a whooping 9.60% decrease in value over the course of 24 hours, but it’s notable to mention that 7.3% were actually up compared with their Monday levels. The Cardano and Solana tokens tumbled today, with the ADA token losing over 6% in value and SOL by 7.2%. The prices for some of the most popular cryptocurrencies feel pressure as they remain heavily correlated. For example, the Avalanche token is currently ranked tenth in terms of volume and has fallen 6.9%. Like many other cryptocurrencies, Dogecoin and Shiba Inu were also hit by the ...