BTCUSD. Source: TradingView
Bitcoin’s price slides coincide with the recent correction in the stock markets. The three most prominent US stock market indexes are all in the red in the past few days. The S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite declined about 5% last week and approximately by 2% on Friday alone.The altcoins are in even worse shape in the past two days. Ethereum traded above $3,100 on Thursday, but it’s down below $2,500 as of now.
Double-digit drops are evident everywhere across the alt charts. This includes Binance Coin , Cardano , Ripple , Solana , Terra , Polkadot , Dogecoin , Avalanche , MATIC , and many others. More losses come from Theta , PancakeSwap , Gala , Harmony , Loopring , Theta Fuel , Oasis Network , Curve DAO Token , and others.
The cumulative market capitalization of all crypto assets has decreased to just over $1.6 trillion. This means that the metric is down by $200 billion in a day and $400 billion in two days.
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