Bitcoin continues to slip as Dogecoin returns to prime 10 – U.In the present day

Alex Dovbnya

The world’s largest cryptocurrency is currently down around 73% from its peak with no recovery rally in sight

Bitcoin, the leading cryptocurrency, fell to an intraday low of $18,682 on the Bitstamp exchange today.

BitcoinImage from tradingview.com

The latest drop comes after the bulls failed to hold the key support at the $20,000 level on Sunday.

Bitcoin, which is considered the benchmark for the broader cryptocurrency market, is currently trading at $18,817.

The largest cryptocurrency continues to trade in step with traditional financial markets and does not act as a portfolio diversifier. Last week, the US stock market was rocked by new economic data.

To sue

On Thursday, Bitcoin lost 5% in minutes after the Bureau of Labor Statistics revealed that US inflation had picked up again over the past month.

Meanwhile, Ethereum continues to lag significantly behind Bitcoin despite the successful merge upgrade that should be a key bullish catalyst for the cryptocurrency. Earlier today, the main altcoin on the Bitstamp exchange fell to an intraday low of $1,287.

ETHImage from tradingview.com

On Sunday, the ETH/BTC pair dipped back below the 0.070 BTC level after peaking at 0.086 BTC on Sept. 7.

The leading meme coin is back in the top 10

This relentless selloff for Dogecoin holders has a silver lining. As reported by U.Today, the most popular meme coin has managed to return to the top 10 after surpassing Polkadot, according to CoinMarketCap data. Dogecoin is currently valued at $7.6 billion.

The hugely popular bitcoin spoof has managed to remain among the top cryptocurrencies by market cap despite losing a whopping 92.18% of its value since early May 2021.


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