BTC Price Wobbles Below $70K, WLFI Defies Monday Correction: Market Watch

Bitcoin’s price ascent to $72,000 on Sunday failed in its tracks, and the asset has retraced by over two grand since that unsuccessful attempt.

Most larger-cap altcoins are in the red today after charting some gains over the weekend. WLFI and XMR are among the few exceptions.

BTC Below $70K Again

The primary cryptocurrency nosedived on several occasions in the past few weeks. On January 31, for example, it dumped from $84,000 to just under $76,000 after it had already dropped from a local peak of $90,000.

The bulls tried to intervene at this point, but their best effort took BTC to $79,000 a few days later. However, that was short-lived as the bears remained the predominant force in the market. As the selling pressure intensified over the business week, it culminated on Thursday and Friday morning when bitcoin plunged to $60,000.

This became its lowest price tag since before the US presidential elections in November 2024. After losing $30,000 in just over a week, the cryptocurrency finally rebounded and surged to $72,000 on Friday and Saturday morning. It failed there and dropped to $68,000, but tried once again on Sunday. However, it was stopped at $72,000 once again.

It has declined by $2,500 since then and now sits below $70,000. Its market capitalization is down to $1.390 trillion on CG, while its dominance over the alts is just over 57%.

BTCUSD Feb 9. Source: TradingView

WLFI Defies Market Trend

As mentioned above, the altcoins are back in the red today. Ethereum is down by 3% to $2,030, XRP is down to $1.40 after a similar decline, while BNB has slipped to $623. SOL and DOGE have dropped by 4%, while CC has shed 5% of value.

WLFI is among the few exceptions, with an 8% surge that has pushed it to almost $0.11. SKY, LEO, and XMR are also slightly in the green, while JUP, ONDO, and ARB have lost the most value daily, of up to 8%.

The total crypto market cap has declined by around $70 billion in a day and is below $2.430 trillion on CG.

Cryptocurrency Market Overview Daily Feb 9. Source: QuantifyCrypto

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