Global Crypto Market Cap Falls Sharply as Bitcoin Retreats

The global market value of all cryptocurrencies fell sharply as bitcoin (BTC-USD), Ethereum, and other major prices retreated on Monday.

Global crypto market cap fell sharply on Monday as bitcoin (BTC-USD), Ethereum, and other major prices retreated. At the last glance, bitcoin is trading below $99,000 as its price plunged by 5.4% in fast and furious profit taking by retails investors amidst corporate buying.

The global market value of all cryptocurrencies decreased notably on Monday, as bitcoin (BTC-USD), Ethereum, and other major cryptocurrency prices fell. According to data from CoinMarketCap.com, the global crypto market cap settled lower at $3.36 trillion, showing a 6.61% decrease over the last day.

Bitcoin is trading below $99,000 at the last look as its price plunged by 5.4% in fast and furious profit taking by retails investors amidst corporate buying. At the last fetch, Ethereum is trading at $3,067 after losing more than 7% in one hour.

Data showed that the total crypto market volume over the last 24 hours reached $157.44 billion, which makes a 96.64% increase. Also, the total volume in DeFi is currently $11.63 billion, according to CoinMarketCap.com, accounting for 7.39% of the total crypto market 24-hour volume.

The volume of all stable coins was at $142.3 billion, which is 90.39% of the total crypto market 24-hour volume. Recall that most major digital were mixed late Friday, with Bitcoin (BTC-USD) holding around the $105,000 level.

The CoinDesk Market Index, which tracks 124 digital assets, climbed 0.9% due to cryptos rally. The Nasdaq 100 fell 0.7% in late trading, while the S&P 500 and the Dow Jones Industrial Average were each about 0.4% lower.

On Friday, Bitcoin was up 0.4% at $104,868, with its 24-hour trading volume declining 37% to $60.62 billion, according to CoinMarketCap data. The most popular cryptocurrency was on track for a weekly decline of 0.1%.

Ethereum (ETH-USD), the second-largest digital asset by market value, was 1.2% higher at $3,332, while heading for a weekly loss of more than 5%. XRP (XRP-USD) lost 1.3%, while Solana (SOL-USD) gained 0.8%. BNB (BNB-USD) dipped 1.1%.

Dogecoin (DOGE-USD) eased 0.5%, and Cardano (ADA-USD) shed 1.8%. The US 10-year Treasury yield closed at 4.625%, down from Thursday’s close of 4.635%, while the five-year yield eased to 4.43% from 4.44%.