• Bitcoin (BTC) has dropped below $28,000 for the third straight day, with most altcoins following suit.
• Lido DAO (LDO) and Bitcoin Cash (BCH), however, have seen notable gains of 7%.
• BTC dropped from $28,000 to just over $27,200 in another price drop in the past 24 hours.
BTC Price Plummets
Bitcoin’s troubles continued for a third straight day, with another price slide that drove it to almost $27,000. Most altcoins also registered losses, with MATIC, SOL, DOGE and LTC dropping the most.
Lido DAO and Bitcoin Cash Defy Market Sentiment
In contrast to this market sentiment, LDO and BCH have gone on a tear – seeing gains of 7% each. BTC had attempted an impressive leg-up prior to this which took it to almost $30K; however its inability to conquer that level meant upcoming trouble for the bulls.
The Past 24 Hours
The past 24 hours brought even more pain for the bulls as Bitcoin went from $28K to just over $27200 in another price drop; although it has managed to recover a few hundred dollars since then, it is still more than 1% down on the day.
Market Updates
Most other altcoins also suffer during this market dip – with MATIC falling by 10%, SOL by 8%, DOGE by 5% and LTC by 4%. This is not surprising considering that all assets are interconnected in some way or another due to their correlations with one another – meaning when one asset moves down so do most others.
Conclusion
Overall it can be seen that today’s market saw a general bearish trend – but two exceptions were made by LDO and BCH which defied this sentiment and rose by 7%. As of now BTC is still recovering but remains more than 1% down on the day while other altcoins seem likely to follow suit soon enough.