Bitcoin Pulls Global Crypto Market Value Down To $2.1T

On Thursday, the worldwide cryptocurrency market capitalisation fell by 2.18% to about $2.1 trillion, owing to a sharp drop in Bitcoin prices.

Bitcoin is currently trading at $60,500, with negative price movement. The largest cryptocurrency has lost more than 6% of its market capitalization in the last six days.

According to CoinMarketCap.com, the overall cryptocurrency market volume in the latest 24 hours was $93.47 billion, a 21.73% decline from the previous day.

According to market reports, DeFi’s total volume is currently $5.07 billion, accounting for 5.42% of the overall crypto market 24-hour volume traded on the Exchange. The volume of all stable coins is presently $85.77 billion, which represents 91.76% of the whole crypto market 24-hour volume.

Yesterday, most major digital assets were in the red late Wednesday, with bitcoin (BTC-USD) dropping close to $60,000.

The CoinDesk Market Index, which tracks 134 digital assets, shed 2.9% in the past 24 hours, while US stock indexes were edging higher. The Nasdaq 100 rose 0.3%, while the S&P 500 and Dow Jones Industrial Average were up about 0.1% each.

Bitcoin, the most popular cryptocurrency, dropped 2.6% to $60,189. Ethereum (ETH-USD), the second-largest digital asset, slumped 4.9% to $2,375.

BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, lost 2.1%, while Solana (SOL-USD), the fourth-largest, tumbled 4.8%. XRP (XRP-USD) sank 5.5%, Cardano (ADA-USD) slid 4.7%, and Dogecoin (DOGE-USD) dipped 1.6%.

The US 10-year Treasury yield closed at 3.783%, up from Tuesday’s close of 3.741%, while the five-year yield closed at 3.552%, up from 3.521%.