The crypto markets slumped on Saturday following several days of consistent gains. Both bitcoin and ethereum prices slid into the red, and most altcoins experienced declines as well.
Bitcoin Price Falls Below $2,500.
One must wonder if concern over the impending network fork is fueling the recent bitcoin price decline and encouraging investors to cash out recent gains in anticipation of a potential price dip following the fork. If such a dip does occur, proactive investors will be able to acquire coins at a steep discount from current prices,
Crypto Markets Drop Under $100 Billion.
Earlier this week the total cryptocurrency market cap had inched its way back to $100 billion after the Monday Massacre, but today’s events erased that progress. The total market cap slid back beneath $100 billion and currently sits at $98.9 billion,
Ethereum Loses Ground.
Earlier in June, the ethereum price managed to climb even when bitcoin and other altcoins fell. That has not been the case this week, as the downward trend has often hit ethereum worse than bitcoin. Today, ethereum price fell to $283. This 8% decrease caused ethereum to lose some ground in the fight to supplant bitcoin as the dominant cryptocurrency.
As tends to happen in widespread market downturns, bitcoin regained a bit of its market dominance. Bitcoin dominance rose to 41.5% for a 24-hour increase of 1%.
