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Bitcoin slid to a 17-day low of $62,400 on Friday before clawing back to $63,000, wiping about $30 billion from the total cryptocurrency market cap. The drop came after the leading crypto failed to hold above $65,000 earlier in the week, and the Federal Reserve's decision to leave interest rates unchanged did little to calm risk assets.
Bitcoin slips below $65,000
Bitcoin's market cap now sits at $1.265 trillion, with its dominance over altcoins rising to 56%. The move lower broke a short-lived rally that had pushed prices above $65,000 midweek. The Fed's steady hand on rates — no hike, no cut — was widely expected, but it didn't provide the catalyst bulls were hoping for. Bitcoin briefly touched $62,400 before buyers stepped in, pushing it back to the $63,000 level by late Friday.
Altcoins mixed: BEAT leads gainers, HYPE and UNI slump
While most major tokens bled, a few outliers posted double-digit gains. Audiera's BEAT token jumped 22% to $4.60, leading the gainers. MemeCore (M) rose 11% to $1.10, and PUMP and PI added 9% and 5% respectively. XMR, HBAR, and SHIB were among the few altcoins in the green.
On the losing side, Ethereum, Binance Coin, and XRP each dropped over 1%. HYPE fell 5% to $52, while UNI and AAVE slumped more than 6%. The broad selloff pushed the total crypto market cap down to $2.260 trillion, a $30 billion decline from the previous day.
What traders are watching
The failure to hold $65,000 has put the short-term trend back in question. With the Fed on hold and no major macro catalysts on the immediate horizon, traders are eyeing whether Bitcoin can defend the $62,000 level. If it breaks lower, the next support zone around $60,000 could come into play. For now, the market remains choppy, with a few altcoins bucking the trend but most following Bitcoin lower.
Bitcoin slid to a 17-day low of $62,400 on Friday before clawing back to $63,000, wiping about $30 billion from the total cryptocurrency market cap. The drop came after the leading crypto failed to hold above $65,000 earlier in the week, and the Federal Reserve's decision to leave interest rates unchanged did little to calm risk assets.
Bitcoin slips below $65,000
Bitcoin's market cap now sits at $1.265 trillion, with its dominance over altcoins rising to 56%. The move lower broke a short-lived rally that had pushed prices above $65,000 midweek. The Fed's steady hand on rates — no hike, no cut — was widely expected, but it didn't provide the catalyst bulls were hoping for. Bitcoin briefly touched $62,400 before buyers stepped in, pushing it back to the $63,000 level by late Friday.
Altcoins mixed: BEAT leads gainers, HYPE and UNI slump
While most major tokens bled, a few outliers posted double-digit gains. Audiera's BEAT token jumped 22% to $4.60, leading the gainers. MemeCore (M) rose 11% to $1.10, and PUMP and PI added 9% and 5% respectively. XMR, HBAR, and SHIB were among the few altcoins in the green.
On the losing side, Ethereum, Binance Coin, and XRP each dropped over 1%. HYPE fell 5% to $52, while UNI and AAVE slumped more than 6%. The broad selloff pushed the total crypto market cap down to $2.260 trillion, a $30 billion decline from the previous day.
What traders are watching
The failure to hold $65,000 has put the short-term trend back in question. With the Fed on hold and no major macro catalysts on the immediate horizon, traders are eyeing whether Bitcoin can defend the $62,000 level. If it breaks lower, the next support zone around $60,000 could come into play. For now, the market remains choppy, with a few altcoins bucking the trend but most following Bitcoin lower.
