The repercussions of the 22% drop in Bitcoin on Saturday continue.
The $10,000 retracement in a single candle dampened the risk appetite of investors, while the level of fear in the cryptocurrency markets rose.
The sharp decline in Bitcoin caused a slaughter in altcoins. While most of the investors who had positions in leveraged transactions were liquidated, over $2 billion was liquidated in one day.
While the eyes are turned to the weekly closing in Bitcoin, we observe that the losses in altcoins are increasing. We observe that some altcoins, which showed good rises in the past week and were exposed to Bitcoin dump during their rally, recovered faster.
When we look at the last 7-day change, we observe that the losses in many altcoins are at the level of 35%. However, there are also altcoins that remain in the positive zone at this point.
According to CoinmarketCap data, the altcoins that are in the top 100 cryptocurrencies and retain some of their earnings as of the last 7-day change are as follows;
Although altcoins were also damaged during the Bitcoin dump, the 7-day return still remains in the positive zone.
*Not Investment Advice.