DeXe Plunges 90% Daily as Bitcoin Struggles to Hold $66K
Crypto markets experience sharp fluctuations while Bitcoin shows resilience.
1Bitcoin's Current Status
Bitcoin reached $67,000 after several days of gains but faced resistance at this level. It's currently trading around $66,000. Last week, it rose from $62,000 to $65,600 following softer-than-expected US inflation data.
2DeXe's Collapse
DeXe's native token DEXE has lost nearly 90% of its value in 24 hours, dropping to $4.50. This decline puts it at risk of falling out of the top 100 cryptocurrencies by market cap, now valued at $432 million.
3Altcoin Performances
RAIN gained 6% to $0.015 while ONDO reclaimed the $0.40 level. Meanwhile, large-cap altcoins like HYPE, NEAR and ZEC saw losses up to 7%. Major coins including ETH, SOL and BNB also declined.
4Market Overview
The total crypto market cap dropped about $40 billion from yesterday's peak to $2.3 trillion. Bitcoin's dominance over altcoins remains above 57%, indicating continued investor confidence in BTC.
5Reasons Behind Price Movements
Bitcoin's $9,000+ gain from July's multi-year lows was fueled by softer US inflation data. However, uncertainty remains about the sustainability of this upward trend amid ongoing market volatility.
6Market Expectations
These sharp crypto market fluctuations present both risks and opportunities for investors. Bitcoin holding $66,000 is seen as a key psychological support level. Continued market volatility is expected in coming days.
Original article: CryptoPotato — DeXe Yüzde 90 Düştü, Bitcoin 66 Bin Doları Savunuyor