The total capitalization of the cryptocurrency market momentarily fell to $900 million.
On Tuesday morning, June 14, the value of Bitcoin (BTC) was sinking by around $21,000. The fall stopped at $21,033, according to CoinMarketCap. Data from the CoinGecko portal is almost identical — the minimum quotes of BTC were fixed at $21,046.
The decline in the value of the first cryptocurrency provoked the fall of the entire market, the total capitalization of which now fell to $892 million. The last time capitalization fell to this level was on January 27, 2021. Bitcoin’s value at the time was dropping slightly below the $30,500 mark. The current decline continues to update lows since December 2020.
Among altcoins, all assets from the top 100 by market cap are in the red zone, except for several stablecoins, the HNT governance token of the Helium blockchain project and the UNUS SED LEO service token of the iFinex ecosystem.
The largest losses among altcoins over the last seven days:
- Curve DAO Token (CRV) — 40%;
- ApeCoin (APE) — 38.8%;
- Klaytn (KLAY) — 38%;
- Aave (AAVE) — 37.8%;
- Waves (WAVES) — 37.5%, etc.
As of June 14 at 13:00 (GMT+3), Bitcoin (BTC) slightly increased — the asset trades at around $22,300. The total capitalization of the cryptocurrency market has also recovered somewhat and is approximately $950 million. The daily drop in the value of the first cryptocurrency is about 7% by this point, and weekly — 24%. According to experts, the short-term forecast for the cryptocurrency market is disappointing.
