![Crypto market can witness another crash if Bitcoin [BTC] drops below..](https://i.newsformal.com/images/2023/3/7/cryptoamb/crypto-market-can-witness-another-crash-if-bitcoin-crypto-market-can-witness-another-crash-if-bitcoin-1632947431674376192.webp)
The situation was critical, as a catastrophic decrease between 15% to 25% in the value of altcoins might occur if Bitcoin were to reach the $19,500 threshold. Thus, causing yet another collapse of the crypto market.helped provide a better understanding of the current scenario. The data showed that there was a decline in the global crypto market capitalization over the last week.
At press time, it was just over $1.02 trillion. Though the market cap went down, altcoin’s market dominance increased, which can be attributed toSource: LunarCrush Another analysis from Santiment pointed out a similar negative trend in the crypto space. The report mentioned that there was a spike in negative sentiment around crypto on various social media platforms. Interestingly, the majority of the negative words on social media were coming from Twitter.
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Bitcoin trades flat at $22,500 as Silvergate concerns weigh on the crypto marketNot much changed for the crypto market since Friday as Bitcoin languishes near support at $22,500 while regulators continue their crackdown on the industry.
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