After marking a new 13-month high yesterday at almost $32,000, bitcoin has been rejected once again and even dipped below $30,000 hours ago.<\/p>\n
Most altcoins are also in the red today following the recent gains, except for DOGE, SHIB, OP, and a few others.<\/p>\n
BTC Stopped<\/h2>\n
Most of the working week went by quietly<\/a> for the primary cryptocurrency as the asset it spent trading sideways in a tight range between $30,000 and $31,000. All that, however, changed on Thursday evening when Judge Torres, presiding over the legal battle between Ripple and the SEC, ruled in favor<\/a> of the blockchain company with respect to its native cryptocurrency.<\/p>\n BTC, along with the rest of the market, went on the offensive and spiked to just under $31,900 (on Bitstamp), which became the asset’s highest price tag in over a year.<\/p>\n However, bitcoin couldn’t maintain that run and quickly retraced by a grand. The landscape worsened<\/a> yesterday evening as BTC dumped hard and slipped below $30,000 for the first time in a week.<\/p>\n Despite bouncing off that level and currently sitting a few hundred dollars above it, bitcoin is still down 3% on the day. Its market capitalization has tumbled to $590 billion after exceeding $610 billion yesterday. Its dominance over the alts sits at almost the same spot as yesterday at 48.4%.<\/p>\n As expected, Ripple’s native token was the most significant gainer after the judge’s ruling. It skyrocketed by almost 100% at one point and tapped $0.95 for the first time since December 2021, leaving millions of shorts. Liquidated<\/a>,<\/p>\n However, it couldn’t maintain its run, either, and fell back down to $0.8 yesterday. Another 8% daily retracement has pushed it back down to $0.72 as of now. Similar losses come from Litecoin, Polygon, Bitcoin Cash, Polygon, and others.<\/p>\n ETH, BNB, ADA, SOL, DOT, and TRX are also in the red from the larger-cap alts. The two largest memecoins are among the few exceptions in the green, as both DOGE and SHIB are up by around 5% daily.<\/p>\n Optimism’s OP has soared by 7.5% in the past 24 hours and has reclaimed $1.5.<\/p>\n The total crypto market, though, is down by over $30 billion since yesterday to $1.220 trillion on CMC.<\/p>\nXRP Loses Some Momentum<\/h2>\n
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