Bitcoin Rejected Hard to Hit $20K After Wall Street Crash on Friday (Weekend Watch)

Bitcoin tried to take down $20,000 but was stopped again and returned to nearly a thousand dollars.

Altcoins are back in the red after yesterday’s massive gains. All this came after Bloody Friday on Wall Street.

Bitcoin stopped at $20 thousand

The primary cryptocurrency has been pretty quiet lately, but that changed when the US announced its latest CPI numbers. BTC stood at $19,000 before plummeting to a multi-week low of $18,200. But this was just the beginning of a rollercoaster ride as assets soared by nearly $2,000 to $20,000 after that.

This became the highest price for about a week but it didn’t last long. Instead of reclaiming that level, the bears came out to play and pushed Bitcoin south hard. As such, the cryptocurrency found itself falling back to $19,000.

Its market capitalization has fallen below $370 billion again, while its dominance of altcoins has seen a slight correction but is still above 40%.

BTCUSD. Source: TradingView

This negative price trend mimics events on Wall Street. After a relatively positive week, the major US stock indices – such as the S&P 500, Nasdaq and Dow – closed Friday with daily declines of up to 3%.

The alternative appeared in red

The altcoin scene was bullish yesterday, with many great winners from the likes of Ripple, MATIC, Avalanche and others.

However, most of them have now followed BTC south. Ethereum jumped to $1,350 24 hours ago, but a slight bounce since then has pushed it below $1,300.

Ripple, Cardano, Polkadot, Dogecoin, Shiba Inu, MATIC and Uniswap are all down up to 5% in one day. Solana’s price fell below $30 after a similar daily drop.

Interestingly enough, Tron’s native cryptocurrency is the only obvious exception to the larger alternatives. TRX jumped more than 5% and is trading near $0.065.

However, the cumulative market capitalization of all crypto assets has seen nearly $30 billion disappear in one day and less than $920 billion.

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

Bitcoin was rejected hard at $20K after the Friday Wall Street crash (weekend hour) debuted on CryptoPotato.

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