Crypto Markets Lost $50B in 2 Days as BTC Slumped Towards $20K (Market Watch)

The crypto markets have lost just over $50 billion in the past two days. This comes as bitcoin’s recent drop towards $20,000.

Following the relatively calm weekend, bitcoin started to lose value gradually and dipped towards $20,000. Most altcoins are also in the red today, with the most notable drops coming from Solana, Avalanche, LEO, Matic, and Litecoin.The working week went rather well for the primary cryptocurrency, which overcame last weekend’s stalemate and$20,000. Moreover, the asset jumped to a three-week high of around $22,500 on Thursday.

However, that was short-lived as BTC started retracing soon after. It fell by over $1,000 almost immediately, tried to bounce off, but was halted in its tracks. As such, it spent most of the weekendAs Sunday was coming to its end, though, the cryptocurrency began losing value and dropped below $21,000. Its nosedive continued, and bitcoin fell to a four-day low of just over $20,300.

As of now, it has sustained above $20,000, but it’s 4% down on the day, and its market capitalization has declined below $400 billion.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

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