Zcash Leads Crypto Losses, BTC Drops Below $90K

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Bitcoin’s rally that began with the new year has come to a halt as the asset has slipped below $90,000 once again, after it was rejected at $95,000 a few days ago.

Most altcoins are deep in the red as well on a daily scale, with XRP plunging by over 6%, while ZEC has dumped by over 20% after the departure of one of the developers.

BTC Struggles at $90K
The primary cryptocurrency went on a solid ride starting on January 2 when it pumped from under $88,000 to just over $90,000. It briefly slipped below that level on Saturday morning after the US initiated a military operation against Venezuela and its president. However, it quickly rebounded and went on a roll in the following days.

It jumped to $91,500 on Sunday, to over $93,000 on Monday, and tapped a multi-week peak of just under $95,000 on Tuesday morning. However, after gaining approximately $7,000 in just a few days, it was almost inevitable that it was due for a correction.

At first, BTC slipped to $93,200, surged back up to $94,400, before it was driven to $91,200, and challenged $93,600 all within the span of hours. Nevertheless, the bears took complete control on Wednesday evening and Thursday for now, driving the asset below $90,000 earlier today.


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