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Bitcoin sell-off ripples through altcoins as market cap contracts
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AMBCrypto
Bitcoin’s slide below $85,000 has triggered broad weakness across major altcoins, with market data showing losses extending beyond BTC into the broader market.
Major altcoins follow Bitcoin lowerAmong the top ten crypto assets excluding Bitcoin and stablecoins, losses were widespread over the past 24 hours.
Volume data suggests the moves were not isolated.
Altcoin market cap drifts lowerTotal altcoin market capitalization declined to around $1.18 trillion, continuing a downtrend that has been in place since early December.
Unless Bitcoin regains traction above recent breakdown levels, altcoins are likely to remain sensitive to further downside or extended consolidation.