Market situation: Cryptocurrency prices decline and $80 billion worth is lost in a matter of hours!
The prices of cryptocurrencies fell sharply, as the crypto market lost approximately $80 billion in value in a matter of hours.
This decline came as the price of Bitcoin fell to less than $69,000 over the end of the week.
Bitcoin price decline:
Last week, Bitcoin tried but failed to break the $69,000 mark, causing its value to fall by more than $2,000.
The currency then stabilized over the weekend at about $67,500.
The start of the week saw a notable rise, as Bitcoin briefly crossed the $70,000 mark on Monday, and continued this rise to reach $72,000 on Friday, marking its highest level in several weeks.
But once again, Bitcoin encountered resistance at the $72,000 level and fell to multi-day lows at $68,500, before settling back above $69,000, reflecting a 2.7% decline on the day.
Bitcoin's market cap has fallen to $1.366 trillion, but its market dominance has risen to 50.8% at the expense of altcoins.
