BTC hits a new low for April at $27,000 as altcoins continue to struggle

The world’s most popular cryptocurrency, Bitcoin (BTC), has continued its downward spiral, hitting a 25-day low of $27,000.

Other altcoins have fared even worse, with Dogecoin experiencing significant losses, while APT and OKB have experienced the biggest slump among mid-cap altcoins.

BTC made a significant jump on April 10, soaring past $30,000 for the first time since June 2020. Later that week, it hit its highest price point at just over $31,000 on April 14. However, the following week was less volatile, with BTC hovering around $30,000.

On April 19, things took a turn for the worse, and BTC plummeted to $29,000 within hours. The situation deteriorated over the next few days, with BTC dropping to $28,000 before reaching a low of $27,100 on April 22.

As of now, Bitcoin is trading slightly above $27,000, down by 3% for the day and over 10% for the week. Its market capitalization has declined to under $530 billion after reaching $600 billion a few days ago. Meanwhile, its dominance over the altcoins has taken a break and is close to 46%.