Crypto Market Loses Almost USD 80bn This Week As Bitcoin Briefly Dips Below USD 10k
The sell-off in the crypto market has continued this weekend with bitcoin (BTC) briefly dipping below USD 10,000 on Saturday.
Since Wednesday, the total market capitalization dropped by almost 20%, to USD 318bn today.
At pixel time (06:48 UTC), BTC trades at USD 10,113, somewhat recovering from USD 9,951 reached on Saturday evening (UTC time). The price is down by almost 4% in a day and 13% in a week, increasing monthly losses to 14.5%.
However, 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.
Meanwhile, ethereum (ETH), which recently 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 usual this week, DeFi tokens crashed the most, with some top projects diving by more than 40% (UMA).
