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Bitcoin Stalls at $62K, Shiba Inu Plunges 35% From ATH


After the enhanced volatility prompted by news from the United States, bitcoin has calmed around $61,500. Some altcoins have also slipped since yesterday, with SHIB losing double-digits in a day. In contrast, Solana has tapped yet another new all-time high.

Bitcoin’s 24H Ride

Just a few days ago – on November 1st – the primary cryptocurrency dumped below $60,000. It reacted well, rebounded just as quickly, and even exceeded $62,000. Following another brief decline, BTC went on the offensive again and skyrocketed to $64,500 – the highest price level since mid-October.

However, it failed to continue upwards and stalled around $63,000, as reported yesterday. This is where news from the US Federal Reserve emerged indicating that the central bank will slow down its money-printing initiatives.

In a matter of minutes, BTC dumped by $3,000 and bottomed at $60,000. However, it spiked back up just as quickly. As of now, though, the asset has slid in value once again and stands below $62,000.

Although its market capitalization still sits above $1.150 trillion, bitcoin’s dominance over the alts is now below 43%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

SOL New ATH: SHIB Dumps Hard

Ether performed well in the past few days, setting new all-time highs, with the latest coming yesterday at nearly $4,700. However, the second-largest crypto has lost some traction since then and is now down to $4,500.

Solana, though, continues to march on and tapped a new record of over $240 earlier today. Moreover, its market capitalization has exceeded that of Tether and SOL is now the fourth-largest digital asset by that metric.

Polkadot and Terra are slightly in the green, while Avalanche is the most significant gainer with a 9% surge to $78. Earlier today, AVAX saw a new ATH of its own at just over $80.

Cardano, Ripple, Dogecoin, and Chainlink have lost substantial chunks of value. Nevertheless, Shiba Inu has dumped the most in a day – 15%. Furthermore, SHIB is now down roughly 35% from its ATH as Kraken’s potential listing of the popular meme coin has been delayed.

IoTeX has exploded by 110% in a day and 160% in a week to $0.16, making it the biggest gainer. As such, IOTX has found a place within the top 100 coins.

Holo (19%), Telcoin (15%), Axie Infinity (12%), Kadena (12%), Ravencoin (12%), and Amp (12%) follow suit.
The crypto market cap is down by $40 billion in a day, but it’s still well above $2.7 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Read More: Bitcoin Stalls at $62K, Shiba Inu Plunges 35% From ATH

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