While bitcoin continues to gradually lose value, AVAX’s impressive performance as of late saw another 9% increase.
Bitcoin’s adverse price movements continued in the past 24 hours, and the asset fell to a two-week low of $45,500. Most altcoins also suffered, with the apparent exception of Avalanche, which has soared by nearly 10% on a daily scale.
Bitcoin’s 14-Day Low
It was just two days ago when the US Federal Reserve said it will leave the interest rates unchanged, which caused a substantial price surge for bitcoin.
The cryptocurrency traded at $46,500 and skyrocketed to $49,500 in just minutes. As the community raised hopes that BTC will finally be able to overcome its $50,000 nemesis decisively, the bears came back to play.
Bitcoin began to gradually lose value, as reported yesterday, but the landscape only worsened in the following hours. This time, the asset fell to $45,500 – the lowest price tag since the massive December 4th crash.
Despite recovering around a thousand dollars since then, BTC is still slightly in the red, and its market capitalization is well below $900 billion.