Bitcoin Sharply Declines to $20K After Friday’s Wall Street Collapse (Weekend Watch)

Bitcoin tried to take down $20,000, but was stopped in its tracks again and has retreated by almost a thousand.

Altcoins are back in the red after yesterday’s massive gains. All this came after the bloody Friday on Wall Street.

Bitcoin stopped at $20K

The primary cryptocurrency has been pretty quiet lately, but that changed when the US announced the latest CPI numbers. BTC stood at $19,000 before plummeting to a multi-week low of $18,200. However, that was just the start of the rollercoaster as the asset skyrocketed by almost $2,000 and reached $20,000 hours later.

This became the highest price tag for about a week, but did not last long. Instead of regaining that level, the bears came out to play and pushed BTC hard south. As such, the cryptocurrency found itself slipping back to $19,000.

The market cap has dipped below $370 billion again, while the dominance over altcoins has seen a slight correction, but still stands north of 40%.

This unfavorable price development mimicked the events on Wall Street. After a relatively positive week, the most prominent US stock indexes – such as the S&P 500, Nasdaq and Dow – all closed Friday with up to 3% daily declines.

Alts Back in red

The altcoin landscape was quite bullish yesterday, with several impressive gains from the likes of Ripple, MATIC, Avalanche and others.

However, most have followed BTC south by now. Ethereum jumped to $1,350 24 hours ago, but a minor retracement since then has pushed it below $1,300.

Ripple, Cardano, Polkadot, Dogecoin, Shiba Inu, MATIC and Uniswap have all dropped up to 5% in a day. Solana has fallen below $30 after a similar daily decline.

Interestingly, Tron’s native cryptocurrency is the only apparent exception to the larger-cap alts. TRX has jumped over 5% and is trading near $0.065.

Still, the cumulative market cap of all crypto assets has seen roughly $30 billion gone in a day and is down below $920 billion.