BITCOIN BTCUSD Market Price Analysis: Bitcoin Market Valuation Drops Below $1.1 Trillion
The “no boring days in crypto” trope appears to have gained more validation over the past 24 hours. Just a few hours after Bitcoin (BTC) recorded a new all-time high at $58,480 and seemed to be waxing stronger on its bullish momentum, the benchmark cryptocurrency got racked with one of the sharpest declines in its history.
BTC went into an aggressive bearish spiral, losing over $11,000 to print a fresh weekly low at $47,500. However, the cryptocurrency bulls have sent the price back to the $50k region and are working hard to sustain that psychological level.
That said, Bitcoin’s market capitalization has shed more than $100 billion over the past 24 hours, sending it below the $1 trillion valuation level. The entire cryptocurrency market cap has dropped by about $300 billion
The “no boring days in crypto” trope appears to have gained more validation over the past 24 hours. Just a few hours after Bitcoin (BTC) recorded a new all-time high at $58,480 and seemed to be waxing stronger on its bullish momentum, the benchmark cryptocurrency got racked with one of the sharpest declines in its history.
BTC went into an aggressive bearish spiral, losing over $11,000 to print a fresh weekly low at $47,500. However, the cryptocurrency bulls have sent the price back to the $50k region and are working hard to sustain that psychological level.
That said, Bitcoin’s market capitalization has shed more than $100 billion over the past 24 hours, sending it below the $1 trillion valuation level. The entire cryptocurrency market cap has dropped by about $300 billion