CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$63,684.00
  • ethereum
    ETH$2,494.89
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Market Updates » Bitcoin Crashing Below $45K As $160B Evaporated from the Market Cap

    Bitcoin Crashing Below $45K As $160B Evaporated from the Market Cap

    Author: Jordan Lyanchev

    Last Updated Feb 27, 2021 @ 08:04

    $160 billion gone from the market cap as BTC drops by $7,000, Ethereum falls below $1,500, and BNB struggles around $220.

    Bitcoin has failed to maintain its price above $50,000 and has lost another substantial chunk of value after dipping to $45,500. The altcoin field is deep in the red as well, and the crypto market capitalization has decreased by more than $160 billion in a day.

    Bitcoin Slides $7K in a Day

    After the past several days in which BTC plummeted from $58,300 to $45,000, yesterday seemed somewhat bullish for the cryptocurrency. Bitcoin reclaimed $50,000 and continued upwards to a high of about $52,000.

    This increase came amid reports that institutional investors have reaffirmed their belief in the primary digital asset by withdrawing $650 million in BTC from Coinbase.

    However, the gains were short-lived as the bears interfered and drove the asset south again. In the following hours, bitcoin started nosediving and reached an intraday low of $44,500. In other words, the cryptocurrency lost nearly $7,000 of value in less than 24 hours.

    Consequently, BTC’s market capitalization also fell to about $860 billion. Earlier this week, the metric was well above the $1 trillion mark.

    Alicia Bakery
    CMO - A really good agency

    Did you like this market update?
    This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

    Invalid email address
    Your privacy is guranteed.
    Thanks for subscribing, you will get your first report in the next hours!

    btcusd_chart
    BTC/USD. Source: TradingView

    Altcoins in Red; Market Cap Below $1.4T

    The situation within the altcoin field seems even worse with substantial price losses. Ethereum leads this adverse ranking with a 10% decline to $1,460. It’s worth noting that the second-largest cryptocurrency is down by $600 since its ATH registered last Saturday.

    Binance Coin, which also painted a new record at $350 recently, is down by 13% on a 24-hour scale to $215. Polkadot (-15%), Ripple (-11%), Litecoin (-10%), and Bitcoin Cash (-12.5%) are also well in the red.

    Cardano seems to have the least negative reaction to this crash as ADA is just 4% down and still trades around $1.

    altcoins_chart
    Cryptocurrency Market Heatmap. Source: Coin360

    Further losses are evident from Venus (-21%), PancakeSwap (-20%), Stacks (-19%), Solana (-18%), DODO (-18%), Fantom (-18%), ICON (-17%), IOST (-15%), Huobi Token (-15%), Avalanche (-14%), Compound (-13%), Synthetix (-12%), and more.

    Ultimately, the cumulative market capitalization has lost nearly $170 billion since yesterday’s peak and is beneath $1.4 trillion. Moreover, the market cap is down by $360 billion in the past five days.

    Crypto Market Cap. Source: CoinMarketCap
    Crypto Market Cap. Source: CoinMarketCap

     

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin (BTC) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

    button
  • bitcoin
    BTC$63,684.00
  • ethereum
    ETH$2,494.89
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    bigomex
    Bitcoin Editorials
    4 Reasons Altcoin Season 2021 Has Officially Started

    4 Reasons Altcoin Season 2021 Has Officially Started

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top