Altcoins Get Slaughtered as Bitcoin’s $107K Breakout Attempt Ends in Carnage

Blood in the crypto streets—BTC’s violent rejection at $107K triggers altcoin massacre. Traders scramble as leverage gets liquidated faster than a Wall Street banker’s moral compass.

• Bitcoin’s bull run halted: A 9% intraday plunge vaporizes $107K dreams

• Altcoin apocalypse: Ethereum, Solana bleed 12-15% as fear spreads

• Derivatives markets implode: $240M in long positions vaporized in 2 hours

Meanwhile, the ’smart money’ keeps repeating ’buy the dip’ while quietly stacking stablecoins. How original.

BTC Stopped at $106K

Last Monday was also quite eventful for BTC, whose price went up to almost $106,000 for the first time since late January before it crashed to under $101,000 within hours. However, the bulls managed to maintain the asset within a six-digit price territory and began a recovery that pushed the cryptocurrency back to a tight range between $103,000 and $105,000.

It spent most of the business week between those two boundaries, and the weekend began on a dull note, as most do. However, the landscape changed on Sunday evening when the bulls initiated a surprising rally that drove BTC to $106,000 at first, where it was stopped, but another, even more impressive run pushed it beyond $107,000 to mark a new multi-month peak.

Another rejection followed, and BTC slumped by roughly $5,000 within hours to just over $102,000. It has recovered some ground since then and now sits above $103,000, and its market cap is back to $2.050 trillion.

Its dominance over the alts has surged to almost 61% on CG after falling below 59.5% last week.

Alts Back in Red

Ethereum recently surged past $2,700, but it was stopped and pushed south in the next few days. Now, it trades at $2,400 after a 4.5% daily decline. XRP sits at a critical support level at around $2.3 after a 3% daily drop.

Even more declines come from the likes of SOL, AVAX, SHIB, TAO, KAS, DOT, and many others, with nosedives of up to 6-7%.

WIF has plunged the most from the largest 100 alts, followed by ENA, IMX, JUP, MRK, and others.

The total crypto market cap has slipped by around $70 billion and is down to $3.360 trillion on CG.