Aside from a brief spike of over $ 1,000, bitcoin’s struggles continue as the asset is still well below $ 32,000. Alternative currencies have also lost a bit more strength, with ETH lying below $ 1,900 and BNB close to dropping below $ 300.

Bitcoin fell to a 3-week low

BTC’s hurdles have continued since the asset failed to breach $ 35,000 earlier this week. The bears took control of the market at that point and kept pushing it south.

Initially, bitcoin fell below $ 32,000. Despite the rebound and recovery of a large value in the middle of the week, they kept the pressure.

As a result, the cryptocurrency dropped to a critical $ 31,000 level yesterday. This became the lowest price since June 27.

At that time, however, reports emerged that Bank of America will begin offering BTC futures trading for some of its clients. Shortly thereafter, the price of BTC saw a sudden surge of over $ 1,000.

However, this brief burst of energy was short lived as the business returned to its current level below $ 32,000 again. As a result, its market capitalization remains below $ 600 billion.

BTCUSD.  Source: TradingView
BTCUSD. Source: TradingView

Altcoins continue to bleed; ETH less than $ 1.9K

Alternative currencies have also suffered in recent days. The largest – Ethereum – has lost some milestones during its descent. It fell below $ 2,000 yesterday, but has continued to fall and is currently below $ 1,900. For reference only, ETH was trading above $ 2,400 less than ten days ago.

Binance Coin also lost ground in one day, and a 3.5% drop took it to just over $ 300. Cardano, Ripple, Uniswap, Bitcoin Cash, and Litecoin have all fallen by a similar percentage since yesterday.

Dogecoin, Polkadot, and Solana lost the most from the larger-cap altcoins. As a result, DOGE is trading at $ 0.175, Polkadot at just over $ 12, and Solana is down below $ 27.

Cryptocurrency market overview.  Source: Quantify Crypto
Cryptocurrency market overview. Source: Quantify Crypto

The situation with low- and mid-cap halts is quite similar. Axie Infinity, which until recently was doing great, went back over 15% in one day to around $ 20.

Followed by Stacks (-14%), BakeryToken (-13%), Flow (-12%) and THORChain (-10%). However, it is worth noting that the latter’s network was hacked yesterday, with estimates showing that as much as $ 7.6 million was stolen.

However, there are some impressive gains: the base attention token has increased by 15% and the NEM has added 12% in value.

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