Crypto Price Today: Bitcoin’s 2% loss is advantage altcoins. Solana, Cardano, Toncoin jump up to 9%
Bitcoin fell nearly 2% and traded at $61,149.82 today, extending its losses to 8% over the last seven trading sessions. However, other major crypto tokens were trading in the green viz. Solana, Toncoin, Cardano, Avalanche, BNB XRP, Dogecoin, Tron and Shiba Inu which were up between 9% and 0.67% around 12:30 pm India time.
Altcoins like Ethereum and Tether were trading flat, though the bias was positive.
Bitcoin fell to sub 60,000 levels for the first time since February this year.
Bitcoin has reclaimed $61,000 after dropping more than 5% to $58,500 overnight, Vikram Subburaj, CEO at Giottus Crypto Platform, said he attributed the sell-off to market frontrunning at the impending $9 billion distribution of Mt. Gox assets in July. In his view, the sharp fall in Bitcoin's dominance today was on account of traction towards altcoins. The AI based tokens and memecoins had rebound well and could become the leading narratives this market cycle, he added. Fetch.ai (FET) and Lido Dai (LIDO) are amongst the top performing coins in the top 100.
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