Bitcoin’s early recovery this week has been nearly erased, dipping below $91,000 amidst ongoing concerns over the EU-US trade dispute and issues related to Greenland. This downturn has negatively affected altcoin values, with Ethereum falling below $3,100 and XRP losing the crucial $2.00 mark.

Bitcoin Hits Weekly Lows

Last week saw Bitcoin making impressive gains, rising by $8,000 within a few days to reach a high of $98,000 by Wednesday evening. However, that bullish sentiment quickly changed, with sales pressure driving prices down through the weekend.

Bitcoin traded steadily at around $95,000 until the tumultuous financial markets opened on Monday following updates about tariffs from the US directed at European nations. This led to fluctuations that caused BTC’s price to tumble from $95,500 to below $92,000.

Although the asset managed a brief recovery, it faced another decline on Tuesday morning, hitting a low of under $91,000 and hovering near that mark, its market capitalization having dipped below $1.820 trillion with a 57.5% market dominance over altcoins.

Altcoins in Decline

After briefly trading above $3,300 on Sunday night, Ethereum is now struggling at $3,100. Ripple’s XRP is struggling significantly as well, trading lower than $2.00 after a 2.6% decline. Furthermore, BNB is down to $915, SOL is below $130, and Monero (XMR) has plummeted over 9% to around $580.

Notably, ICP has suffered a substantial drop of 13%, currently trading at $3.7, while CC has shown a slight gain of over 9%, trading above $0.12.

The total market capitalization in the cryptocurrency sector has shrunk by another $80 billion, now resting at approximately $3.160 trillion.