Crypto Markets Lost $50B as Bitcoin Drops to Weekly Lows

Bitcoin and most of the altcoins are in the red today, and the total market cap is down by $50 billion. Following a few days of sideways trading, bitcoin dropped by several hundred dollars to a weekly low of just over $23,000. Most altcoins are also in the red today. Some of the most notable losers on the day include Solana, Shiba Inu, and Avalanche.

After last week’s drop to $22,000, bitcoin went on the offensive and added a few thousand dollars. This culminated in a surge to over $25,200 during the weekend, which became the asset’s highest price tag in over two months. However, it failed to continue climbing or even remain there. In the following hours, BTC nosedived by over $1,000 to around $24,000. It stood there for a while and even initiated another leg up, but it was halted at $24,400. The bears resumed control over the market and pushed BTC south once again. #Web3SEOexpert #Web3GrandPappa

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