The past several days turned out to be some of the worst in bitcoin’s recent history as the asset plummeted from $66,000 to under $50,000 from Friday to Monday morning.It was precisely seven days ago when the BTC bulls had it all under control as they pushed the asset to a multi-week peak of $70,000. It’s hard to fathom what transpired in the next 168 hours, though.
Bitcoin lost its momentum almost immediately last Monday and dropped to $66,000. It stood there for a few days but resumed its downfall on Thursday and especially on Friday. Amid the growing economic uncertainty for the US and other countries, BTC, alongside Wall Street, dumped hard.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:to just under $50,000, marking its lowest price position since mid-February.
Despite recovering a few grand since then and now trading close to $53,000, BTC is still 12% down on the day and 24% for the past seven days. Its market cap has dumped to $1.050 trillion, while its dominance over the alts has shot up to 53.7%.It almost feels like a repeat now, but the alternative coins’ performance has been even worse. The daily landscape seems like a horror show.
Binance Coin, Solana, Ripple, Dogecoin, Toncoin, Avalanche, Shiba Inu, Bitcoin Cash, and Chainlink are just a few of the alts with double-digit price losses since yesterday.52% of its value within this timeframe, BRETT down by 48%, AR by 45%, PEPE by 44%, and so on. The cumulative market cap of all crypto assets has lost $500 billion since Friday. The metric dumped below $2 trillion for the first time in six months.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.