Cryptos Market Cap Dips 3.66% to $2.54T as Bitcoin Falls

The global crypto market cap slid by 3.66% to $2.54 trillion as bitcoin price fell below $70,000.

The global crypto market cap decreased on Saturday morning as major digital assets, including Bitcoin and Ethereum, experienced losses.

The crypto market cap slid by 3.66% to $2.54 trillion, as the price of bitcoin fell below the $70,000 threshold. According to data from Coinmarketcap.com, the total crypto market volume over the last 24 hours reached $91.6 billion, which represents a 12.53% increase over the day.

On the other hand, the total volume in DeFi is currently $8.11 billion, accounting for 8.85% of the total crypto market volume traded in a day. The volume of all stable coins was $85.43 billion, which is 93.26% of the total crypto market 24-hour volume.

According to data obtained from the exchange, Bitcoin’s dominance was 53.80%, representing an increase of 0.58% over the day. Yesterday, most major digital assets fell, with Bitcoin retreating to $69,000.

The Nasdaq 100 and Dow Jones Industrial Average fell 0.2%, and the S&P 500 eased 0.1%. Bitcoin (BTC-USD), the largest cryptocurrency by market value, fell 1.8% in the last 24 hours to $69,269, according to CoinMarketCap data.

Trading volume was $36.41 billion, up 48%, according to data obtained from crypto exchange. The most popular cryptocurrency is on pace to conclude the week with a gain of more than 2%.

Ethereum (ETH-USD), the second-largest digital asset, was trading 2.7% lower at $3,687 and headed for a weekly loss of almost 3%.

BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, fell 3.1%, while Solana (SOL-USD), the fourth-largest, was down 2.2%. XRP (XRP-USD) tumbled 3.4%, Toncoin (TON-USD) shed 1.1%, Dogecoin (DOGE-USD) slumped 7.1%, and Cardano (ADA-USD) fell 1%.

The US 10-year Treasury yield closed at 4.426%, up from 4.279%, while the five-year Treasury yield closed at 4.45%, up from 4.291%.

The total market value of the cryptocurrency industry was down 3.2% in the past 24 hours at $2.54 trillion. The total trading volume increased by around 45% to $105.49 billion.