Bitcoin’s plunge in early November has driven the price down to just above $104,000, marking a distinct low over several months across various exchanges.

The altcoins have suffered even harsher losses, while some privacy coins like DASH have seen substantial increases.

BTC Falls Below $104K

Last week, Bitcoin unsuccessfully attempted to break the $116,000 resistance, dropping back to $112,000 shortly after. Despite expectations of a rebound following the U.S. Federal Reserve’s decision to lower interest rates — generally seen as encouraging for risk assets — Bitcoin continued its descent, sinking below $110,000 before another drop towards $106,000 as the business week closed.

It managed to gain a bit of traction over the weekend, hitting $111,000, but the trend reversed again, leading to a decline below $106,000. In the recent 12 hours, Bitcoin’s value fell to just over $103,500, its lowest since June, not accounting for a flash crash on October 17.

As a result, Bitcoin’s market capitalization has decreased to $2.070 trillion, with its market share among altcoins increasing to 58.5%.

BTCUSD. Source: TradingView

Privacy Coins Defy Trends

Most altcoins have experienced steeper declines than Bitcoin. Prominent drops include APT with a 12% decrease, while larger cryptocurrencies like Ethereum fell below $3,500 and BNB dropped to $950. Other cryptocurrencies such as ADA, SOL, and DOGE are all facing significant losses.

Conversely, privacy coins are thriving, with DASH soaring over 70%, followed by ICP at 35% and ZEC, which saw a 23% increase.

The overall cryptocurrency market capitalization fell by an additional $150 billion within a day, resting at $3.530 trillion.