Another Failed Bitcoin Breakout Sends Crypto Traders Running

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Bitcoin (BTC) dropped below $79,000 after another failed breakout attempt near $81,000, extending a crypto market pullback that wiped billions from digital asset valuations. Solana (SOL) fell nearly 5%, and several major altcoins including XRP, Cardano (ADA), Chainlink (LINK), and Monero (XMR) moved sharply lower during the selloff. Traders are now watching whether Bitcoin can hold near-term support after multiple rejections below its recent highs.

Bitcoin Drops After Another Failed Breakout

Indeed, Bitcoin spent most of the past 24 hours sliding lower after bulls failed once again to reclaim momentum above $81,000. The asset briefly traded above that level yesterday before sellers pushed it sharply downward to a low near $78,800. The move marked Bitcoin’s weakest level in roughly 10 days.

Even after a modest rebound, BTC continues trading below the psychologically important $80,000 mark, according to the latest data on May 14. Bitcoin is now down 1.7% on the day as overall crypto sentiment has weakened across major assets.

The recent price action follows several failed breakout attempts over the past week. Bitcoin previously surged toward the $83,000 region before momentum faded and sellers regained control.

Despite the correction, Bitcoin dominance remains elevated above 58%, showing that altcoins continue struggling to outperform during periods of volatility.

Solana Slides As BNB Extends Lead Over XRP

The wider market turned heavily red alongside Bitcoin’s drop. Solana posted one of the sharpest declines among larger-cap assets, falling about 4.7% and slipping toward the $91 level. XRP also declined nearly 2%, whereas Ethereum (ETH) traded below $2,300 after another daily loss.

At the same time, Binance Coin (BNB) continued strengthening its position above XRP by market capitalization. BNB remained relatively resilient compared with many other major assets and now holds a noticeably wider lead over Ripple’s token.

The heatmap also shows steep losses across several altcoins including Toncoin (TON), Zcash (ZEC), SUI, LINK, Stellar (XLM), and XMR. Only a handful of assets managed to stay green during the industry-wide downturn, including Dogecoin (DOGE), TRON (TRX), and Canton (CC).

It’s still a good time to buy crypto at lower prices as overall crypto market capitalization dropped below $2.75 trillion during the selloff as traders reacted to weakening momentum and repeated Bitcoin rejections near resistance levels.

The post Another Failed Bitcoin Breakout Sends Crypto Traders Running appeared first on TechGaged.com.