Crypto market loses $500 billion in a week amid falling Bitcoin prices. What’s the near-term outlook?
Nearly half a trillion dollars has been erased from the cryptocurrency market in under a week as a Bitcoin-led selloff gathered pace. The total market capitalisation of cryptocurrencies has dropped by $467.6 billion since January 29, according to data from CoinGecko.
Bitcoin rebounded 1.31% to $76,681.72 on Wednesday. The largest cryptocurrency plunged to a 15-month low of $72,877 on Tuesday — a level last seen during US President Donald Trump’s re-election in early November 2024, when expectations of a more crypto-friendly policy environment had been high.
