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Bitcoin Dipped Below $19K as Negative Sentiment Grows
It was less than a week ago when the primary cryptocurrency was trading confidently above $20,000 and even marked a multi-week high north of $20,500. However, the US job report turned the tables and pushed BTC south by around a grand, even though it beat the expectations.
As such, bitcoin entered the weekend in a range between $19,000 and $20,000 and spent all of it there. The landscape remained unchanged on Monday, but hours ago, BTC started nosediving once again. This time, it dropped below $19,000 to register an 8-day low.
As of now, bitcoin has regained some ground and stands over that line. Its market cap is down to $365 billion, but its dominance over the alts is up to almost 40%
This latest price dip comes despite the recent increases in the BTC mining difficulty and the hash rate – both of which marked new all-time highs.
In contrast, Santiment said the general sentiment towards the asset and the entire market has taken another hit.