Cryptocurrency market cap drops below $1 trillion as altcoins bleed (market watch)

The total cryptocurrency market cap fell below $1 trillion on Saturday with the majority of altcoins bleeding out. Bitcoin also fell below $20,000 as the bulls failed to make any meaningful gains.

Bitcoin under 20 thousand dollars

The underlying cryptocurrency failed to chart any noticeable gains over the past 24 hours, dropping by about 1.3%. The bulls tried to push the price higher on a few occasions but failed to do so. In the end, this allowed the sellers to win and push BTC back below the required $20k.

Source: Quantify Crypto

In the last 24 hours, $28 million worth of BTC trades have been liquidated, which is relatively insignificant, indicating that volatility has dried up as well. At this time, ETH futures traders seem to be more popular.

Altcoins are bleeding

The majority of altcoins lost between 1% and 3% in the past 24 hours in a slow sideways decline which is characteristic of bear markets.

heat map 1
Source: Quantify Crypto

ETH lost nearly 2.61% during this period, which led to the liquidation of nearly $90 million from ETH sites. The largest single liquidation order with a face value of $1.86 million was made on OKEx.

Solana lost 1.5%, MATIC – 1.2%, Ethereum Classic – 1.42%, NEAR – 2.3% and so on. The biggest deviation over the past 24 hours appears to be Filecoin, which is up nearly 9%. On the other hand, Helium’s HNT token is down 7.5% – the cryptocurrency that has lost the most.

Post-Crypto market cap fell below $1 trillion as Altcoins (Market Watch) debuted on CryptoPotato.

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