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Bitcoin (BTC) Falls to $86K After the Crypto Summit, These Altcoins Suffer Painful Losses (Weekend Watch)
The cryptocurrency market has been subject to a new wave of volatility over the past 24 hours, with Bitcoin (BTC) plunging below $85,500 following the highly anticipated crypto summit held at the White House. Despite expectations of a potential price rally, BTC instead fell, further fueling speculation that the event may have triggered a “sell the news” effect.
Following an initial plunge to around $86,300 hours after the summit, the leading digital asset has managed to recover slightly, currently trading at $86,100 on CoinGecko’s data. This represents a 2.5% decline in value over the past 24 hours.
The bearish trend has been felt across the entire cryptocurrency spectrum, with many top altcoins suffering substantial losses. Ripple (XRP) has fallen by an alarming 5.5% to $0.235, while Cardano (ADA) has slipped a further 6% to $0.81. Chainlink (LINK) is down 9%, with Hedera (HBAR), Sui (SUI), Stellar (XLM), and many other cryptocurrencies witnessing painful losses.
On the flip side, TRON (TRX), Pi Network (PI), and Litecoin (LTC) have emerged as relative winners, charting some modest gains amidst the broader market decline.
