Bitcoin’s price recovery that began yesterday came to a halt when the asset fell below $113,000 for the first time since August 3.
Most altcoins also fell in the past 24 hours, with ETH struggling to stay above $4,200 and XRP falling below key technical support.
The current trading week is expected to be full of volatility for the major cryptocurrency, especially after a quiet weekend, where BTC traded flat around $117,500.
The fall began on Monday when BTC fell to an 11-day low around $115,000 in the run-up to and following a meeting between Trump, Zelenskyy, and several European leaders.
Things got worse on Tuesday, and although BTC managed to recover slightly to $117,000, the momentum did not last. The price then plunged below $113,000 on Tuesday night and Wednesday morning, making it the lowest level in about three weeks, as fear began to grip the market.
Although BTC has rebounded slightly to near $114,000, it is still on a daily decline. The market cap is now down to $2.265 trillion, and altcoin dominance remains below 58%.
Of the overall market, only LINK has posted a 3% daily gain, while several other alts such as SOL, TRX, LEO, and TON have shown small gains in the last 24 hours.
In contrast, Ethereum (ETH) has fallen by almost 1% and is approaching the $4,200 mark. Similar declines were also recorded by BNB, DOGE, HYPE, XLM, and SUI.
XRP, the native token of Ripple, fell below the $3.00 level, which is considered a key support level in the bull market phase. The 4% drop has pushed its value to $2.90.
Cardano (ADA) was the worst-hit altcoin among the large-cap altcoins, down over 8% and currently at $0.85.
The overall crypto market cap lost over $70 billion overnight, now down to $3.920 trillion according to CoinGecko.
