Bitcoin’s price may have worsened recently as it hit a new low of $93,000, but a modest recovery has begun. During this period, many altcoins are suffering declines.

Bitcoin’s Recovery from $93K

A week ago, positive market signals lifted Bitcoin to $107,000. This growth, however, was fleeting, leading to significant losses. After bouncing slightly back to $102,000, BTC faced another downturn, dropping to $94,000 on Friday.

The market managed to gain some momentum, pushing Bitcoin to around $97,000 before the weekend saw turbulence again, leading to a renewed drop. Now, it appears to have stabilized at approximately $96,000, although analysts suggest the market dynamics have shifted.

Altcoins Show Weakness

Meanwhile, Ethereum has also faced challenges, falling below $3,100 temporarily but having recovered just slightly to $3,200, which is still a 1% loss over the past day. Other cryptocurrencies like BNB, SOL, and ADA have similarly logged losses of varying degrees. Overall, the crypto market cap has seen a substantial reduction, plummeting by $40 billion, indicating shaky conditions all around.

Market Overview Cryptocurrency Market Overview Daily. Source: QuantifyCrypto