The crypto market has lost $1 trillion and may lose another
Market overview
The crypto market capitalisation has fallen by more than 6% over the last day to $3.26 trillion, its lowest level since early July. The crypto market has set lower local lows, confirming the downward trend. Since its peak on 7 October, the crypto market capitalisation has fallen by more than $1 trillion, or 24%, which technically means the beginning of a bear market. If the rules of stocks apply here, then we should prepare for a further decline of approximately 20%, or around $1 trillion.
Bitcoin fell below $97K, losing nearly 6% in the last 24 hours. Under continuous pressure since 11 November, it has already lost over 11%, falling back to levels last seen in May. A bearish signal — the death cross — is already…
