It’s been a very difficult 24 hours for the entire crypto market as coins continue to record serious decline. Number one cryptocurrency Bitcoin, is also not spared as it managed to hold still at $48,000.

Bitcoin managed to reclaim its former spot after tapping a 10-day high at $48,000 mark. Altcoins have recorded only price drops since yesterday except for Avax that rose to a new All-Time High price. Solana leads the pack of coins in the red region with a 10% drop in the past 24 hours.

Bitcoin stagnant at 48,000

Bitcoin has been having a good week although prices were going up and down when the week began. At some point, it bottomed at $43,000 as bulls took control at that point and started a rally from thereon.

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Bitcoin reclaimed some lost ground and jumped to above $48,000 on Thursday. It continued to rally and reached an intraday high of $48,500. This became the highest price line since last week’s massive crash, in which the cryptocurrency plummeted by $10,000 in a day.

After that peak on Thursday, the number one crypto retraced slightly and even dropped to $47,000 on Thursday. At the time of writing, Bitcoin trades above $47,000 a just a little away from $48,000.

Bitcoin’s market capitalization stands around $900 billion, and its dominance over the alts is over 41.5%.

Avax, Doge rally in red infested Altcoin market

Altcoin in the past 24 hours has continued to plummet. Ethereum, which had jumped to $3,650 yesterday, is down by more than 2% to $3,530.

Cardano, Binance Coin, Ripple, and Terra have dropped by a similar percentage. As a result, ADA sits at $2.4, BNB at $420, XRP below $1.1, and LUNA is at $36.

Solana has dumped by 10 % below $145. However, the case is different for Avalanche.

Avalanche skyrocketed to a new all-time high just hours ago. Polkadot and Dogecoin have also marked some gains.

Crypto market overview in the last 24 hours
Crypto market overview in the last 24 hours, Credit; QuantifyCrypto

In the Mid and lower-cap Altcoin sector, Shiba Inu and Audius stand out as the most significant gainers after increasing by 32% and 25%, respectively.

However, others have suffered like the rest of altcoins with  ICON (-11%), Perpetual Protocol (-11%), Synthetix (-9%), and Revain (-9%) all in the red.

Ultimately, the market cap of the entire crypto market has plunged by 1% and is currently at $2.21 trillion.