The crypto market experienced a sharp decline last Friday night. Bitcoin price crashed below $70K, triggering a massive sell-off in the market. Total capitalization fell by around $100 billion, now standing at around $2.57 trillion. 📉

Things were fine until the bears decided to party Friday night. This sudden move pushed the price of Bitcoin below $70K and triggered a huge drop across the crypto market. This led to the liquidation of hundreds of millions and also sparked fears of a long correction.

However, the bears are not done with the market yet. Last Thursday, the price plunged again, unable to maintain the gains from the attempted recovery to $70K. This is why we currently find Bitcoin trading around $67K, absolutely unable to escape this level upwards. Most altcoins suffered the same fate, but many of them posted bigger losses.

For example, SOL fell 13%, as did SHIB, AVAX, BNB, MATIC, PEPE and many other altcoins. ETH lost 7.7%, NEAR lost about 18.67%, and so on.

However, there were some interesting things that happened during this week. For example, MicroStrategy is preparing to buy another $500 million of BTC. No surprises there.

Meme coins also continue to make a splash. Last week saw the emergence of a meme coin launched by Andrew Tate (who has noted many times that he would never launch a crypto). He and another celebrity - Iggy Azalea (who also launched her own coin) - are now accused by members of the community of insider trading.

What do you think about this? Come on, let's discuss it in the comments column! 😄