BTC News: A $100 billion meltdown was seen from the total value of the cryptocurrency market. In parallel, the value of BTC fell below $35,000, pulling back to its lowest price line since last Sunday.
The weekend continues to bring negative price developments for Bitcoin as the flagship crypto asset drops to a six-day low of $35,000. Exhibiting a similar bearish chart with BTC, ETH dropped to $2,200 and BNB below $340. The dips in ETH and BNB also contributed to the $100 billion drop in total market capitalization in one day.
Bitcoin plunges to 6-day low
Things were going well for Bitcoin, which rose to $40,000 at one point during the week. The bulls took the asset almost to a 3-week high at $41,400 but failed to sustain the momentum.
On the contrary, BTC started to lose value gradually in the following days. As a result, the cryptocurrency first dropped below $40,000, then continued to lose more support levels.
After falling to $37,000 as reported yesterday, the bears continued the pressure and pulled Bitcoin just below $35,000. This has become the asset’s lowest price line since last Sunday, reaffirming the perception that it has not been performing well over the weekends recently.
Despite recovering several hundred dollars since the intraday low, BTC’s market cap is below $700 billion, while its dominance is just under 45%.