Whole market sees double digit losses as Bitcoin sinks over 15%

27 Jun, 2019 | Updated: 27 Jun, 2019
by Richard Allen
Price Action
Whole market sees double digit losses as Bitcoin sinks over 15%

As Bitcoin soared to new yearly highs yesterday, the king cryptocurrency has experienced a sharp correction as the coin is down over 15% in the last 24 hours with the vast majority of the market experience similar double-digit losses.

At the time of writing, Bitcoin is trading at $11,301.47, a decline of 15.36%, dropping well over 5% in just a few minutes as the king currency shaves off around $7 billion from its market cap. As a result, BTC's market cap has dropped below $200 billion, now at $197.2 billion.

BTC/USD chart provided by Tradingview

Nearly all of the top ten are recording similar losses. Ethereum is trading at $296.67, down over 14.65%. Meanwhile, Bitcoin SV is nearly 20.88% in the red, trading at 193.04 while EOS and Bitcoin Cash shed over 20% each. BCH is now valued at $402.52 while EOS is trading at $5.84.

The top 20 are no different. Tron, Stellar, Monero and IOTA are all showing gains of almost 19% while Ethereum Classic tanks 22.29% to $7.40. Dash and NEO are both recording losses of over 16% each, now trading at $154.96 and $16.58, respectively.

Aside from the stablecoins, Chainlink and XMax are the only to coins to see green. While down 3% on the hour, LINK is still seeing gains 1.88% at the time of writing. Meanwhile, XMax seeing a meteoric gain of 59.27%.

The market’s biggest loser is Energi as the project tanks 28.74%. Total market cap is $318.1 billion, while BTC’s dominance has climbed to 62%.

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