Bitcoin Plummets by $6K Daily as These Altcoins Dump by Double Digits: Market Watch


The total crypto market cap dipped below $3 trillion today again.

‘;
}

function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);

const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);

scriptEl.src = scriptURL.toString();

// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}

function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}

// Initial Load for Desktop
if (window.innerWidth > 768) {

const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}

// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}

// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();



December starts with a bang, but in the wrong direction, as bitcoin dumped once again by several grand in the span of just a few hours without an apparent catalyst.

The altcoins have followed suit, with ETH losing the $3,000 and $2,900 levels, while XRP found some support at $2.00.

BTC Drops Below $86K

The primary cryptocurrency bottomed at $80,500 on November 21 and began a gradual recovery in the following ten days. It bounced to $84,000 during that weekend and surged to $88,000 by Wednesday. Although it was stopped there at first, it managed to break through and even reclaimed the $90,000 resistance as the trading week came to an end.

The bulls kept the pressure on last Friday when they drove bitcoin to a 7-day peak of over $93,000. The overall market sentiment started to change as many anticipated another rally toward $100,000. That, however, has turned out to be a distant dream, at least for now.

Bitcoin was immediately rejected at $93,000 and driven to around $91,000, where it spent most of the weekend until the early hours of the Asian trading session. At the time, BTC started to nosedive rapidly and dumped to under $86,000 for the first time in several days.

Although it has recovered around a grand since then, BTC is still 5% down on the day. Its market cap has slipped to $1.730 trillion, while its dominance over the alts is above 57%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts With Big Declines

The altcoins are deep in the red today as well. ETH has dropped by over 5% and now struggles below $2,850. XRP is down by almost 7% and sits beneath $2.05. BNB, SOL, DOGE, ADA, LINK, and HYPE have marked even more violent declines of up to 8%.

ZEC continues with its recent correction. Another 19% drop has driven it to $365. Recall that the asset flew past $700 not so long ago. RAIN is the only exception from the larger-cap alts. It’s up by over 12% and trades above $0.008.

The cumulative market cap of all crypto assets has shed nearly $200 billion in a day and stands around $3 trillion as of now.

Cryptocurrency Market Overview December 1. Source: QuantifyCrypto
Cryptocurrency Market Overview December 1. Source: QuantifyCrypto

 

SPECIAL OFFER (Exclusive)

SECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source: https://cryptopotato.com/bitcoin-plummets-by-6k-daily-as-these-altcoins-dump-by-double-digits-market-watch/