Currently, Bitcoin is nearly down 73% from its peak, with no relief rally seeming to come soon. On the Bitstamp exchange, Bitcoin swept to an intraday low of $18,682 earlier today. The most recent drop followed the bulls’ failure to hold the key support at the $20,000 level on Sunday. The asset continues to trade in lockstep with traditional financial markets and is failing to act as a portfolio diversifier.
Ethereum, too, is trading downward and had hit the intraday low of $1,287 despite a successful merger event. However, Dogecoin has managed to make a comeback to the top 10 after surpassing Polkadot.