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Crypto Markets Shed $250B Weekly as Bitcoin, Altcoins Bleed Out Heavily (Market Watch)
The cryptocurrency market has experienced a tumultuous week, with the total crypto market capitalization plummeting by a staggering $250 billion since last Monday’s peak. This significant decline is largely attributed to the sharp fall in bitcoin and altcoin prices.
Bitcoin’s price continues its downward trend that began on Friday, dipping to a two-week low of approximately $81,000 earlier today. The cryptocurrency’s weekly chart shows an overwhelming 7,000 dollar loss compared to last week. Its market capitalization has taken a hit as well, dropping to $1.63 trillion on CG.
Meanwhile, the altcoins have suffered even more severely, with many notable names posting double-digit losses over the course of the week. XRP, for instance, is the poorest performer among the larger-cap alts, plummeting by up to 8%. Other notable losers include SUI, HBAR, LEO, and DOGE.
On a daily scale, DOGE, ADA, BNB, LINK, and XLM have also slid into the red. However, their losses are significantly less severe than those experienced on the weekly chart, where ETH, XRP, ADA, LINK, AVAX, HBAR, and LTC have all tumbled by double-digit percentages.
Despite the bleak outlook, it is worth noting that CRO has made significant gains of 20%, while TON has risen by 6%. However, these gains are not enough to offset the catastrophic losses seen across the board.
Source: https://cryptopotato.com/crypto-markets-shed-250b-weekly-as-bitcoin-altcoins-bleed-out-heavily-market-watch/
