Market Cap Back At $1T After Bitcoin Lost 14% Weekly (Market Watch)

The cryptocurrency market is going through a rough patch, with the last few days seeing billions wiped off its total capitalization. Bitcoin has pulled below $21K once again.

All in all, the market cap is closing in on $1 trillion once again, and it’s interesting to see if the coveted level will hold.

Bitcoin Retracing Below $21,000

At the time of this writing, the leading cryptocurrency has once again pulled back below $21,000 and is charting a decline of 2.2% in the past 24 hours alone.

img1_btcchart
Source: Binance via TradingView

Over the past day, Bitcoin’s dominance – the metric that’s most commonly used to gauge the cryptocurrency’s share relative to that of the entire market – increased by almost 0.5%. This means that over this period, BTC performed better than altcoins.

However, the entire market is looking particularly shaky at the moment. With this week’s uncertain opening, the total losses for Bitcoin over the past week amount to about 14%.

Altcoins Underperform, ETH Approaching $1.5K

As mentioned above, Bitcoin performed better than the rest of the market and this is evident in the price of the major altcoins.

img2_heatmap
Source: Quantify Crypto

As seen in the table above, Ethereum is down 3.5% in the past 24 hours, while SOL, DOT, AVAX, LINK, UNI, and others, are down almost 5%.

The cryptocurrency that lost the most in the past day is Celsius Network’s CEL token – down 21%, followed by STEPN’s GMT and ETC, which are down about 6.5%.

On the other hand, EOS seems to be the best performer, up 4.8% on the day and about 13.4% on the week.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

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.

Cryptocurrency charts by TradingView.