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Crypto Market Cap Losses $100B Within 24Hours, As Bitcoin Declined to Weekly Low

The crypto market capitalization sees decline by $100 billion in a day as bitcoin goes down to its weekly low.

Furthermore, The bears continues pushing bitcoin south in the past 24 hours. Notably, this is as the asset drops to a weekly low of just over $62,000.

More so, almost all altcoins are also seeing red candles, especially Litecoin losing the most value in a day.

Notably, this dip is coming just few days after the top cryptocurrency hits through its previous ATH two times in a row. Also, it’s last latest peak is at $69,000.

More so, this is also coming as all hopes is ready for $70,000. So, Bitcoin and the entire crypto market Instead of going upwards, heads straight south.

Consequentially, in just free hours, BTC loses over $6,000 of value to an intraday bottom of $63,000.

However, It bounces off initially and goes above $65,000 but this price increase is short as the bears take over.

Lastly, this means the cryptocurrency falling o $62,300 (on Bitstamp), representing the lowest price point since November 7th.

Currently, bitcoin is seeing recoveries of over $1,000 with its market capitalization reclaiming $1.2 trillion.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.