Ripple, Shiba Inu Retrace Hard as Bitcoin Loses $65K Level (Market Watch)

Bitcoin’s price hit a multi-week peak at $66,000 yesterday, but the bears were quick to intercept the move and pushed the asset south by over a grand.

The altcoins are also in the red today, with SHIB, XRP, and XLM popping out as the biggest losers on a daily scale.

BTC Can’t Go Above $66K

After the negative start of the month, when BTC fell hard to under $54,000 on July 5, the cryptocurrency began its recovery rather immediately and jumped back to $58,000, where it stood for about a week.

The landscape changed last weekend after the failed assassination attempt against the pro-crypto US presidential candidate, Donald Trump. Bitcoin soared by a few grand immediately and even more – to $63,000 – on Monday.

The bulls kept the pressure on and pushed BTC to a multi-week peak of $66,000 amid the growing ETF inflows , which was registered yesterday morning. However, the asset’s gains were halted at this point, and it started to lose some traction.

As of now, the cryptocurrency stands more than a grand away from its local top at just under $65,000. Its market cap has slid to $1.280 trillion, while its dominance over the alts is well above 51% on CG.

XRP, SHIB Retrace Hard

Most altcoins were pumping in the past few days, but the trend has changed now. Ripple’s native token was among the top performers lately, but a 6% daily retracement has stopped its run and pushed it back down to $0.57.

Shiba Inu is the other massive loser from the larger-cap alts. The second-largest meme coin is down by 8.3% and trades at $0.000017. ETH, DOGE, AVAX, DOT, LINK, and UNI are also in the red from this cohort of altcoins.

The total cryptocurrency market cap, which has charted a multi-week peak of its own yesterday, is down by $40 billion to $2.490 trillion on CG.