BTC Charted Lowest Daily Close Since July 2021 As Markets Lost $300B

BTC charted lowest daily close since July 2021 while the markets lost $300 billion in four days as we can see more today in our latest Bitcoin news today.

BTC charted lowest daily close since 2021 July and most of the other altcoins continue to suffer more with massive price drops. The BTC price crash continued in the past day as the asset doesn’t seem to stop losing value and most altcoins are in a similar position with the massive price drops from Solana, Ripple, Cardano, SHIB, and DOT being hit too. In contrast, NEAR is among the few gainers. It was just four days ago when the primary digital asset surged to $40,000 following the latest FOMC meeting and failed at overcoming this level and stood close to it for several hours before the market changed entirely.

It was just a few hours, BTC dumped by $4000 to a multi-week low of $36,000 and while there was a huge drop of its own, it wasn’t the end. Bitcoin slid below $35,000 to chart a new bottom but this time was the lowest since late January. However, that was not all either as the crypto dropped once again to over $33,000 which became the lowest daily close price since the summer of 2021. as of now, BTC struggles around the level and as such, the market cap took another hit and is now down to $635 billion. Similar to BTC, most alternative coins were freefalling the past week and most of them charged multi-month lows of their own.

ETH touched $3000 earlier this month but it lost over $500 since then. Another 4.5% drop in the past day brought the second biggest crypto below $2500. Binance Coin trades at $340 after standing above $400 in a week and Terra and DOGE both declined by similar percentages. Cardano, Solana, DOT, Avalanche, Ripple, and SHIB all lost more substantial chunks of value. NEAR protocol is among the few gainers of 9% and now trades above $11. the cumulative market cap of the crypto assets is down to $1.5 trillion which means the metric was about $300 billion gone in four days.

As earlier reported, Bitcoin fell below $35,000 this morning after declining almost 4% over the past day and about 9% in the past week with the market cap of the biggest crypto crashing to $658 billion and in March, the figure stood at $900 billion.