Two weeks ago, on the famed Bitcoin Pizza Day, BTC soared to a record high of nearly $112,000. The euphoria, however, was short-lived as the leading cryptocurrency began to retrace its steps almost instantly.

Despite maintaining a steady position around $110,000 initially, it suffered a major setback last week. The most drastic plunge occurred towards the end of the business week, causing the cryptocurrency to lose a significant chunk of its value. The lowest point was reached on Saturday when BTC fell to a 12-day low of $103,100.

At this critical juncture, the bulls made a concerted effort to prevent a potential collapse into the five-digit territory. Bitcoin showed signs of recovery, aiming for the $106,000 mark multiple times since then. However, these attempts proved futile with BTC now hovering below $105,000 following the most recent rejection.

Bitcoin’s market capitalization now stands at $2.080 trillion according to CG, while its dominance over the altcoins has climbed back to 61%.

Altcoins have suffered even greater losses than Bitcoin in the past 24 hours, with their reduced market share as clear evidence. Avalanche is among the worst-hit, shedding over 5% of its value and barely holding above the $20 mark. UNI and XMR have also seen significant drops, while HYPE, DOGE, and LINK are deep in the red. ADA, SUI, and XRP have lost up to 2%.

Overall, the total market capitalization of all cryptocurrencies has diminished by more than $30 billion since yesterday, currently standing below $3.410 trillion as per CG.

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Bitcoin kicked off the week on a positive note, soaring from just under $104,000 to nearly $106,000, a multi-month high. This surge was a direct response to the trading agreement reached between the US and China. However, the digital asset could not sustain this momentum and fell around $5,000 in the hours that followed, hitting a weekly low of under $101,000.

Despite this setback, the bulls refused to let Bitcoin fall below the pivotal $100,000 mark, initiating a recovery that propelled the cryptocurrency back up to $105,000 by Thursday. The subsequent days saw a rejection and increased volatility, but Bitcoin has managed to keep within a tight range of $102,500 to $104,000. The cryptocurrency is currently hovering near the higher end of this band.

Bitcoin’s market capitalization has stayed strong at over $2.050 trillion, with its dominance over altcoins increasing by more than 0.5% daily, now standing at 60.4%.

Contrarily, several larger-cap altcoins have experienced losses over the last 24 hours. Ethereum (ETH) fell below $2,500 after a 3% daily decrease. Dogecoin (DOGE) has also seen a similar downward trend, while Shiba Inu (SHIB) and Chainlink (LINK) have both fallen by more than 4%.

The most dramatic fall, however, comes from PI, the native token of the Pi Network, which saw a massive 20% drop, now trading below $0.7. Other larger-cap altcoins also in the red include PEPE, Uniswap (UNI), Ondo (ONDO), Aave (AAVE), Near Protocol (NEAR), Aptos (APT), and others.

As a result of these downturns, the total crypto market cap has shrunk by over $70 billion in just a day, bringing it down to $3.4 trillion.

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The premier cryptocurrency had an impressive performance last week, finally breaking free from its extended trading range between $93,000 and $95,000. This breakout occurred on Thursday after a successful retest of the lower boundary. Bitcoin’s price was driven to a new local high of over $97,000 on Thursday and $98,000 on Friday morning, shifting the market focus towards the anticipated $100,000 milestone.

However, the bears took control, leading to a reversal in the cryptocurrency’s course. Instead of venturing into the six-digit territory, Bitcoin started losing value incrementally. It dropped back to $96,000 on Saturday and Sunday, and Monday’s Asian trading session saw it dip further to a May low of $93,600.

Despite this, it has rebounded somewhat and currently trades about $1,000 higher. Its market cap on CG has fallen to $1.880 trillion, and its dominance over the altcoins has decreased by 0.2% to 61.5%.

Among larger-cap altcoins, SUI has been the star performer, recording an 8% increase and trading around $3.5 following a slight retracement in recent days. In monthly terms, SUI has risen by more than 50%. Other altcoins like TAO, PEPE, ONDO, LTC, and XMR have also seen gains between 3-4%.

ETH, XRP, BNB, SOL, DOGE, LINK, and TRX are also in the green, although to a lesser extent, while ADA, LEO, AVAX, and TON have registered minor losses. The overall crypto market cap has shed another $20 billion daily and is currently below $3.060 trillion.

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Bitcoin’s price took a nosedive, starting off Sunday morning and escalating into Monday, pushing the digital currency to a three-week low, roughly $91,000, on most trading platforms. Altcoins suffered a worse fate in the past 36 hours, with many experiencing double-digit percentage drops.

Bitcoin Asserts Dominance

Just three days ago, the leading cryptocurrency was valued at over $106,000, seemingly unaffected by the US Federal Reserve’s decision to maintain the current interest rates. Its price began to decline on Saturday, reaching $102,000, marking the beginning of a harsher correction period.

After the US President Donald Trump imposed tariffs on Canada, Mexico, and China on Sunday, the market reaction was swift. Bitcoin’s price fell from $102,000 to $97,000, where it remained for most of the day. The downward trend continued into Monday, with a sudden drop of $6,000, sending Bitcoin’s value under $92,000—a $10,000 loss since Sunday.

Although Bitcoin has since recovered slightly to over $95,000, the market cap has fallen below $1.9 trillion. Despite this, Bitcoin’s dominance over altcoins has risen to nearly 59% on CoinGecko, representing a 3% increase in just one day.

Altcoins Take a Hit

The rise in Bitcoin’s dominance indicates a severe blow to altcoins. Ethereum, for instance, fell from over $3,000 to below $2,300 before stabilizing close to $2,600. Solana and Tron are among the few altcoins that experienced a single-digit percentage drop within the last 24 hours.

In contrast, BNB, XRP, DOGE, ADA, LINK, AVAX, XLM, TON, SUI, HBAR, and SHIB saw dramatic double-digit percentage declines, with ADA suffering the most significant loss—up to 23%. The total crypto market cap shed over $400 billion at its lowest point and now hovers just above $3.2 trillion on CoinGecko.

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