Bitcoin, Cryptocurrency

$80 Billion Loses felt in the Crypto Market as Bitcoin Momentarily Slips Below the $10,000 range

The crypto market’s sell-off has been ongoing this past weekend with bitcoin (BTC), shortly plunging below USD 10,000 on Saturday.

Since last Wednesday, the total market capitalization sank by almost 20%, to USD 318bn today.


At pixel time (06:48 UTC), BTC trades at USD 10,113, slightly recovering from USD 9,951 reached on Saturday evening (UTC). The price is down by almost 4% in a day and 13% in a week, increasing monthly losses to 14.5%.

Nevertheless, BTC recorded the smallest drop among the top 60 coins today, except bitcoin (SV) (unchanged in a day), and LEO (-2%).

As a result, BTC dominance, or the percentage of the total market capitalization, increased to 58.8%, or the level last seen in the first half of August.

Meantime, ethereum (ETH), which lately rallied on the back of the DeFi frenzy, is down by 16% to USD 325, while other coins from the top 10 dropped by 4%-17%.

As expected this past week, DeFi tokens crashed the most, with some top projects diving by more than 40% (UMA).


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