Bitcoin Rejects At $46K With The Market Cap Losing $100B In One Day

Bitcoin rejects at $46K once again and the market is down by $100 billion in one day as the coin was stopped from reaching a new high so let’s read more in today’s latest Bitcoin news.

After tapping a new high of $46,000, Bitcoin rejects at $46K again and pushed south almost instantly. Other coins are deeper in the red and there were some substantial losses from Solana, Polkadot, Ripple, SHIB, and others but THETA is among the exceptions that made double-digit surges. Bitcoin spiked to $45,000 over the weekend for the first time since January after reclaiming $40,000 but the bears didn’t allow for further increases and they pushed the coin south to below $43,000. after a few days of stagnant movements, BTC tapped $45,000 again yesterday before embracing its volatile nature in the next few hours. After the US released its highest inflation rate numbers in 40 years of about 7.5% BTC dropped by $2000.

It then started to gain value again and spiked to $3000 to less than $46,000 which became the new high price tag since January while also bringing some more pain for the leveraged traders. The bears came out to play once again at this stage and BTC dumped another $3000 to below $43,000 hours later. Bitcoin rejects at $46,000 but the asset managed to recover slightly despite the asset losing $100 billion.

As it usually happens with the enhanced volatility that BTC gets, the altcoins experience more losses. Ethereum surpassed $3200 yesterday before a daily drop of 3% which drove it south. As of now, ETH stands below $3100 and there were other similar decreases evident from Cardano, Terra, Binance Coin, and DOGE. Ripple dropped by 6.5%, Polkadot by 5.5% Solana by 6.3%, and Shiba Inu by 5%. THETa is among the exceptions which increased by 15% to $4.2. the cumulative market cap of all assets dropped by $100 billion in one day and it Is now down below $2 trillion.

As recently reported, The investors in the new metaverse space will be able to buy virtual land using LEASH token which is another token issued by the same team. The world of meme coins is entering the metaverse and the team behind Shiba Inu which is an ETH-based token, has little utility but it Is the 13^th biggest crypto with a market cap of $18.4 billion which was announced the virtual land project.