Bitcoin briefly traded under $70,000 as the market faces a broad risk-off retreat after last week’s rally to around $90,000. Just over a week earlier, BTC traded at $90,000, but the rally was halted as sellers overwhelmed the market, and it subsequently fell to $81,000 last Thursday before rebounding to $84,000 on Friday and sinking again to under $75,000 by Saturday. A continued decline saw BTC slide to $73,000 on Tuesday, with a brief recovery failing to restore confidence. The downturn has culminated in a below-$70,000 print, followed by a partial bounce, leaving the asset down about 7% on the day and 20% for the week, and pushing its market cap to roughly $1.41 trillion.
Bitcoin’s dominance has slipped to 57%, suggesting altcoins are bearing heavier losses in this risk-off phase. The broader crypto market has also deteriorated, with the total market cap down about $170 billion to sit below $2.5 trillion as the downturn deepens. On the altcoin front, ETH is down about 6% to near $2,000 after an 8% drop. BNB has slipped below $700 and now trades at $677, losing nearly 10%.
XRP is today’s worst performer, plunging more than 15% to $1.35, its lowest level in over a year. SOL, ADA, DOGE, XMR, LINK, and others remain deep in the red, reflecting widespread market capitulation. Market Impact: The total crypto market cap shed another $170 billion, falling below $2.5 trillion, while BTC’s dominance slipped to 57% as bearish momentum intensified.
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