BTC Falls Below $28,000 as LDO, BCH Defy Market Sentiment with 7% Jumps (Market Watch)

BTC Falls Below $28,000 as LDO, BCH Defy Market Sentiment with 7% Jumps (Market Watch)

Bitcoin's woes continued for a third straight day, with another price slide, this time taking it to nearly $27,000.

Most altcoins are also suffering, with MATIC, SOL, DOGE and LTC falling the most. In contrast, LDO and BCH have slipped.

BTC's new local low

It was just a few days ago when the primary cryptocurrency embarked on an impressive run higher that pushed it to almost $30,000. However, his inability to conquer this coveted level meant trouble ahead.

The bears took control of the market and pushed BTC south to below $29,000. After staying there on Sunday, the landscape started to change for the worse on Monday. As a result, the asset plummeted by another grand.

The last 24 hours brought even more pain to the bulls. Bitcoin rose from $28,000 to just over $27,200 in another price decline. Since then, he's managed to recover a few hundred dollars, but he's still down more than 1%.

As a result, Bitcoin’s market cap has fallen to $535 billion. Just for reference, the metric was well over $560 billion as of Friday evening.

The dominance over the altcoins has also fallen slightly to almost 47%.

BTCUSD. TradingView

BCH, LDO Defying market sentiment

The altcoins have not been enjoying themselves in the last few days either. Ethereum was well above $1,900 over the weekend but has fallen below $1,850 so far. Binance Coin has fallen from over $340 to $315 at the time of writing this.

Even more losses come from XRP, DOGE, MATIC, SOL and LTC. All of these have fallen by up to 5% in a day.

On the other hand, there are Bitcoin Cash and Lido DAO. Both assets are up about 7%. As a result, BCH is trading at $120 while LDO is above $1.8.

However, the total crypto market cap has fallen again. The metric, which days ago was over $1.2 trillion, is now at $1.140 trillion at CMC.

Overview of the cryptocurrency market. Quantify crypto