BTC Dives Below $67K as XRP Breaks Under $1.00 in Fresh Crypto Sell-Off: Weekend Watch

The cryptocurrency market can't catch a break with another leg down as the weekend begins, typically a calmer period. Bitcoin leads the pack with a dive to under $67,000, while ETH dipped below $1,900, and XRP struggles to remain at $1.00.

The liquidations are almost $700 million on a daily scale once again as the market remains deep in red. Bitcoin's market capitalization has slumped to $1.35 trillion on CoinMarketCap, while its dominance over alternative cryptocurrencies is down to 59.5%.

Recent Price Movements

The downward trend began after the US midterms when BTC slipped below $76,000 following the Democratic sweep before briefly exploding to $81,000 on November 5. This rally was short-lived, with subsequent rejection pushing the price below its starting point by Friday.

Friday the 13th proved particularly painful as BTC plunged below $68,000 to mark a multi-month low. Although it rebounded to $70,000 later that day, it couldn't sustain the climb and fell again on Saturday morning to $66,500, a level not seen since mid-August.

Altcoins Follow Suit

XRP also slipped below a psychological level, dipping to $0.984 earlier in the morning. Recall that Ripple's token stood at $1.35 less than ten days ago. Ethereum dropped under $1,900 and now fights to stay above that level, having been close to $2,500 on November 5.

Other major cryptocurrencies are also in decline, with BNB down to $620, SOL struggling at $76, and HYPE beneath $70. While some coins like ZEC, XMR, NEAR, LTC, and PUMP show insignificant gains, most mid- and lower-cap altcoins are in the red, including PEPE which suffered a massive 6% decline.

The total crypto market cap has shed another $110 billion in the past couple of days, standing at $2.330 trillion on CoinMarketCap. These adverse developments have led to a substantial uptick in liquidations, with nearly $700 million in leveraged positions wiped out in the past day.