Bitcoin Slides To $60K As October Ends, SHIB Dumps 25%: Analysis

Bitcoin slides to $60K as this month ends and SHIB dumped 25% of its value with the rest of the larger-cap altcoins retracing in a day, as we can see more in our latest altcoin news today.

Despite the larger-cap altcoins retracing, The Sandbox and Decentraland marked some strong gains. However, Bitcoin slides to $60K in another south movement and tested this range once more with most of the alternative coins bleeding out in the past day including a strong drop from Shiba Inu and Dogecoin. The main cryptocurrency went through a roller-coaster when it crashed from $61,500 to $56,500 in a few minutes which came after recovering from the latest sub-$60K price range. However, the asset bounced off as fast as it went up and it kept climbing on Friday and Saturday to a new high of $63,000.

However, the bears stepped up and started pushing the cryptocurrency south so, in the next few hours, BTC dropped to $61,000 before it started a new leg up that was halted at $62,500. The rejection brought some more pain for the price as BTC lost about $2000 since then but it stands at over $60,500 which meant that it could slide further. Its market cap dropped to under $1.150 trillion while the dominance over the altcoins is set at 44%. ETH marked two consecutive all-time highs with the latest one coming at $4,460. the second biggest crypto then started its gradual retracement and got down by $200 since then.

Binance Coin tapped a new high above $530 with a minor decrease that drove BNB to $250. more losses were seen from Cardano as it dropped by 2%, Solana by 4%, DOT by 3%, and Chainlink by 2.5%. the two biggest meme coins Shiba and Doge registered the biggest price losses in one day while DOGE was down 7% and SHIB slumped by 11%. however, CoinMarketCap shows that SHIB is well ahead of DOGE in terms of total market cap. The metaverse mania that started with Mark Zuckerberg continued to bring some strong price gains as Decentraland’s MANA token surged by 1405 to $3.40 while SandBox increased by 70%. Even stronger gains were evident from Chiliz, Basic Attention Token, Enjin Coin, Zcash, Ankr, Horizen, and Zilliqa.