Bitcoin’s price has continued to slide, falling below $90,000 for the first time in several months. While most digital assets followed the downward trend, a few altcoins — including ICP, HYPE, and ASTER — moved in the opposite direction and recorded strong gains.
Bitcoin Slides Further After Forming Death Cross
Bitcoin is now trading close to $91,000 after a sharp drop over the past few days. This marks a loss of nearly 30% since its record high of over $126,000 in early October. In the past 24 hours alone, the price has dropped by around 6%.
The latest dip triggered a chart pattern known as the death cross. This takes place when the short-term moving average moves below the long-term moving average. Some traders use this as a signal of a change in trend. Analyst Ali Martinez said,
“each time a death cross appeared over the past year, a recovery followed.”
But he also pointed out that in 2022, the same setup led to a much longer drop in prices. The current chart pattern and speed of the decline are being compared to that earlier period.
Bitcoin’s price is also below the MVRV mean of $98,650. This level often acts as a line between fair value and undervaluation. On November 16, BTC was already below this level, trading around $94,390. Since then, it has dropped further to a seven-month low under $90,000 before slightly recovering.
The month of November has been rough for Bitcoin. It started near $111,000, dropped under $100,000 in the first week, and then quickly slipped further. A brief recovery pushed it to $107,000, but that didn’t last long. By Monday night, the price broke below $90,000.
Bitcoin’s market cap is now just over $1.8 trillion. Its share of the overall crypto market has fallen under 57%, showing that altcoins have not held their value during this move either.
ETH, BNB, and Other Altcoins Fall
Most major altcoins have dropped alongside Bitcoin. Ethereum fell below $3,000 but has recovered slightly. BNB is now below $900. XRP has dropped toward $2.10, down by more than 4% in a single day. ZEC fell by more than 10%.
Other well-known coins like ADA, SOL, DOGE, LINK, XLM, AVAX, and HBAR are also showing losses. Many of these assets have lost more than 5% in just 24 hours. The total crypto market value has dropped by around $150 billion and now sits near $3.2 trillion based on data from CoinGecko.
ICP, HYPE, and ASTER Show Strength
A few tokens moved against the overall market. Internet Computer (ICP) jumped over 15% and is now trading above $5.60. There is no confirmed reason for the rise, but the move has caught attention.
HYPE increased by 5.5%, passing $40. ASTER rose by 7.5% and now trades above $1.30. These three are among the few altcoins showing gains while most of the crypto market remains in decline.
Traders are watching to see whether Bitcoin can hold support at current levels or if further drops are ahead.
