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Bitcoin price drops after rising to $ 7,600

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The price of bitcoin fell on Monday after hitting a historic high above $ 7.600 the day before. Many altcoins experienced price increases, but their combined progress was not enough to prevent the total market capitalization of the cryptocurrency from falling below the $ 200 billion mark.

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<p class= Source: CoinMarketCap

The crypto ceiling began the day just north of $ 200 billion and continued to climb, reaching $ 202 billion on Sunday afternoon before falling back and dropping to $ 195 billion at about 0500 UTC Monday morning. From there, crypto market capitalization recovered moderately, bringing it to $ 199 billion.

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<p class= Source: CoinMarketCap

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Bitcoin Price back after the race at ATH

The global average bitcoin price hit a new record high of $ 7,617 on Sunday, as the market continues to benefit from the bullish tone initiated by the announcement that a major US derivatives exchange has been reported. intention to launch bitcoin futures. However, the price of bitcoin dropped by more than $ 400 after taking this step, bringing it to a world average of $ 7,175. On Bitfinex, the fall was even more precipitous and threatened to force the price of bitcoin below $ 7,000.

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<p class= Bitcoin Price Graph | Source: CoinMarketCap

Fortunately, the slowdown has turned out to be a problem, and the price of bitcoin has stabilized above $ 7,300 and is currently trading at $ 7,359. This gives bitcoin a market capitalization of $ 122.7 billion, which translates into a daily decline of about 1%.

The price of Ethereum is less than $ 300

The price of Ethereum spent most of last month nearly $ 300, and this trend continued on Monday. After starting the day just below the $ 300 mark, the Ethereum lost about six tenths of a percent, which brought it down to a current value of $ 297. Ethereum maintains a market capitalization of approximately $ 28.4 billion.

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<p class= Price Ethereum Chart Source: CoinMarketCap

The classical ethereum enters the top 10

Altcoins recorded a combined net gain of $ 500 million on Monday, reducing the bitcoin dominance index by about 1%. Nevertheless, bitcoin still controls 61.7% of the total market capitalization of cryptocurrency.

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<p class= Source: Spare Parts

Bitcoin led the altcoin rally, raising its price by 3% to $ 626. The ripple, litecoin and dash all declined, but none of these declines exceeded eight-tenths of one percent. The price of NEO has risen by just over 1%, while the NEM price has risen by 8%.

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<p class= Ethereum Classic Price Chart | Source: CoinMarketCap

Classical Ethereum posted the most impressive gain of the day, jumping nearly 26% to $ 15. Ethereum classic had long languished on the outskirts of the crypto cap's top 10, and today's impressive performance has allowed it to reclaim a prominent place in the market. The main theory for the rally is that the OKEx Cryptocurrency Exchange has added support for the classic ethereum futures. Ethereum classic is now ranked ninth with a market capitalization of nearly $ 1.5 billion, and monero completes the top ten with a slight increase to $ 82.

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<p class= Ethereum Classic Price Chart | Source: CoinMarketCap

Many CoinMarketCap users have noted that the market capitalization of bitconnect has recently dropped by 75%, forcing it out of the top 10. The bitconnect price has remained stable, but the index operator has adjusted the market capitalization of cryptocurrency. coins that are locked into loan agreements. The current offering of Bitconnect currently has a market capitalization of $ 591 million, ranking it 14th.

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Image from Shutterstock.

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