BTC Market Cap Plunges Below $1 Trillion, Continues Bearish Trend
CryptoNewsTerminal Staff05 Aug, 2024
BTC Market Cap Plunges Below $1 Trillion, Continues Bearish Trend
Bitcoin's market capitalization has plummeted below $1 trillion, reaching $989.5 billion as of today's market analysis. This significant drop follows a persistent downtrend, with a 17.59% decline in the past 24 hours alone. Over the last week, BTC has lost 27.95% of its value, driving its current price down to approximately $50,172.06. This bearish trend has raised concerns among investors, who are closely monitoring the cryptocurrency's performance. Factors contributing to the market decline include macroeconomic uncertainties and regulatory pressures. However, it remains to be seen whether this downtrend will persist or if BTC will regain its lost ground in the coming days.
