• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin [BTC] Pulls In All The Altcoins Along As It Plunges Below $50K
Bitcoin

Bitcoin [BTC] Pulls In All The Altcoins Along As It Plunges Below $50K

April 23, 2021 by Sahana Kiran

Bitcoin [BTC] has managed to secure a prominent position on a number of mainstream platforms across the globe. The price of the king coin has risen from a low of $10,000 to an all-time high of $64,000. After recording this immaculate price rise for months, the volatility of the king coin prevailed.

The cryptocurrency industry has been time and again called out for its extreme volatility. Several have been skeptical of investing in the crypto market due to the untimely drops in the prices of the coins. This time Bitcoin had exerted extreme volatility by dropping down to a low of $48,228 for the first time since March.

At the time of writing, BTC was trading for $48,246.79, with a drop of 11.17% in the last 24-hours. The last seven days were highly unfavorable for the king coin as it plummeted down by over 21%. Despite being the largest cryptocurrency in the world, its dominance had dipped down to 51.5% as the altcoin market emerged. The market cap of Bitcoin also took a hit as it succumbed below $1 trillion. During press time, the market cap of BTC was noted at $901 billion which further pushed the overall numbers to $1.76 trillion.

Bitcoin Endures A 6-Week Low

Santiment, an online analytics platform took to Twitter and noted that Bitcoin wasn’t the only asset that was enduring a drop. The platform noted that the altcoins followed suit. The tweet read,

😨 #Crypto's focus has shifted to the on-chain health of #Bitcoin after falling as low as $48.5k for the first time since March 6th. The 6-week low for $BTC has sent #altcoins into a sharp plummet, with only $HEX, $BTG, & $ARRR as top 100 notable gainers. https://t.co/EC89Gwe6xy pic.twitter.com/VIP1pSzvzv

— Santiment (@santimentfeed) April 23, 2021

Bitcoin One-day Price Chart On Binance

Bitcoin
Bitcoin [BTC] Pulls In All The Altcoins Along As It Plunges Below $50K 3

The one-day price chart of BTC revealed that the bears were all over the market. The Parabolic SAR indicator formed a line over the candlesticks hindering the growth of the king coin. This line of resistance could make it difficult for the cryptocurrency to make it past $50K once again. The MACD line slumped below the signal line and formed a bearish crossover.

Additionally, the Relative Strength Index indicator pointed out that Bitcoin was in the sellers’ zone. Furthermore, the marker seemed to be going down to the oversold zone.

Turns out, this bearish momentum would persist in the BTC market making it difficult for the asset to get back into its previous all-time high or even over the $50K mark.

Filed Under: News, Bitcoin News Tagged With: Bitcoin (BTC)

Primary Sidebar

Recent Posts

  • Dogecoin Team Warns Of A New Sham Tech Support Account August 8, 2022
  • UK Lawmakers Begin Probe On The Crypto Sector August 7, 2022
  • Binance and WazirX: Clash of the Exchanges August 7, 2022
  • TRON [TRX] Surpassed BNB Chain To Reach Top 2 In DeFi TVL August 7, 2022
  • Release of JustMoney Pay – Cryptocurrency Payment Gateway August 7, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.