Watch the Weekend: Ripple Up 6%, Bitcoin Drops to $20,000

Bitcoin price saw a rather surprising drop yesterday when the US announced its September jobs report, which was better than expected.

Most altcoins are also appearing in red now, with the notable exception of Ripple. XRP once again stole the show, rising nearly 7%.

Bitcoin drops the $20,000 mark

Since the October 3 crash to below $19,000, the landscape surrounding the initial cryptocurrency has been very positive. The asset bounced off this level and even jumped above $20,000.

This drove prices to a three-week high of $20,500, and bitcoin paused there but stayed above $20,000 for a few days in a row. However, the situation changed yesterday after the US jobs report, which slightly exceeded expectations.

While some are still debating the reason for this, the bitcoin price dropped in minutes by around $1,000, however, it managed to defend $19,000 and is now in a familiar range between that level and $20,000.

As a result, its market capitalization fell below $375 billion, and its dominance of altcoins took a slight hit by shrinking to 39.6%.

BTCUSD. Source: TradingView

XRP stands out

Most altcoins mimic the performance of BTC and are slightly red. Ethereum price is down 2% per day, but still north of $1,300.

Binance coin fell sharply yesterday after the hack against BNB Chain. During the network’s recovery, the local cryptocurrency dropped a little to $281.

Cardano, Solana, Dogecoin, Polkadot, Sheba Inu, Matic, Tron and Uniswab are also in red from the major exchanges.

The only exception to the top 10 is Ripple. XRP jumped 6% in one day and is trading just above $0.5.

The cumulative market capitalization of all crypto assets has seen billions disappear in a single day and drop to just under $950 billion on CoinMarketCap.

An overview of the cryptocurrency market.  Source: Quantify Crypto
An overview of the cryptocurrency market. Source: Quantify Crypto

Beyond Watching Weekend: 6% Ripple Rise, Bitcoin Loses $20K Level for the First Time on CryptoPotato.

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