After Months of Being Among the Top Ten Global Assets by Market Capitalization, Bitcoin Has Now Fallen Out of the Elite List

After months of being among the top ten global assets by market capitalization, Bitcoin has now fallen out of the elite list. The cryptocurrency has dropped to the eleventh position by market cap.

After spending months among the top ten global assets by market capitalization, Bitcoin has now fallen out of the elite list. According to 8MarketCap data, the cryptocurrency has dropped to the eleventh position by market cap.

The cryptocurrency behemoth is currently valued at $1.675 trillion, which is less than Meta Platforms’ market cap. The social media giant is currently valued at $1.706 trillion.

Over the past seven days, Meta’s market value has decreased by 3.04%, while Bitcoin’s market cap has fallen by 13.02%.

At the time of writing, Bitcoin is trading at $85,088, which represents a 4.13% decrease in the last 24 hours.

Also, in the last 24 hours, Bitcoin’s market cap has decreased by over 4%. But, its 24-hour market cap is up 16%, reaching $68.33 billion.

The bearish trends in the crypto market had been building for some time but intensified after former President Trump announced that tariffs on Canada and Mexico would take effect as scheduled and that a 25% tariff would be imposed on the European Union.

This tariff policy, combined with weak consumer data, has raised concerns about the prospects for economic growth, leading to a significant downtrend in Bitcoin and other cryptocurrencies.

However, crypto veterans, including Binance’s founder Changpeng Zhao, have weighed in amid the market panic. Zhao, in a very matter-of-fact manner, recently reassured traders that Bitcoin is not dying. His words have at least seemed to instill hope for crypto traders and hodlers in the midst of dropping fear and greed market index.