Why Altcoins Were Tumbling on Thursday
A notable headwind rocked the cryptocurrency market on Thursday, driving down not only the sector's leading asset but a great many coins and tokens that tend to slipstream behind it.
It almost seemed as if none could really escape this trend. Closely watched utility coin Cardano (CRYPTO: ADA) and token Solana (CRYPTO: SOL) were both down over the 24-hour period from 4 p.m. ET that day. The former was in the red by over 6%, while the latter had lost nearly 5% of its value. The less useful Shiba Inu (CRYPTO: SHIB) was down by 6%, and Aptos (CRYPTO: APT) was faring worse with a 7%-plus slide.
If such a quartet is tumbling in the mid-single-digit percentages over the past day, you can be pretty sure that crypto leader Bitcoin's (CRYPTO: BTC) price graph was moving south. Sure enough, as of this writing, it was sinking by almost 4%. A Christmas Day rally didn't quite take the coin back to the vaunted $100,000 level it finally crossed over in previous days. It's now trading, somewhat unsteadily, at a touch over $95,000.
Source Fool.com
