Crypto Market Plunges Broadly, Litecoin Surges 10% Amid BTC's $83,000 Fall
The cryptocurrency market experienced a broad decline on September 24, with major coins dropping to break key support levels. Bitcoin (BTC) fell by 2.73% and approached the $83,000 mark, while Ethereum (ETH) lost 2.49% and dipped below the $2,700 threshold.
Binance Coin (BNB) dropped 2.08%, falling below the $800 level, and Ripple (XRP) plunged by 7%, dropping below $1.50. However, Litecoin (LTC) defied the trend and surged by around 10%, rising to near $70 intraday and reaching a new high since January this year.
The main reason for the decline in Bitcoin and major coins is attributed to rising bond yields putting short-term pressure on risk assets. If BTC can stabilize around the $82,000 level, market sentiment may recover, driving altcoins into a broader sector rotation with Litecoin expected to push toward $90.