Considering the recent bearish outlook in the crypto market, the price of Bitcoin (BTC) and other cryptos has plunged significantly in value since the start of the year.
BTC USD down -7.78%, ETH USD down -13.64%
The global crypto market has suffered from $683 billion being eroded from the market capitalization in over three weeks, with value dropping from $2.208 trillion on Jan. 1 to $1.525 trillion as of Jan. 24.
The crypto market has dropped 7.42% over the last 24 hours, as the overall crypto market volume has fallen by 11.71% in the previous 24 hours to $94.83 billion.
DeFi is currently valued at $13.83 billion or 14.58% of the overall cryptocurrency market’s 24-hour volume, as stablecoins are valued at $77.56 billion or 81.80%.
Bitcoin still remains a 41.55% dominance of the overall crypto market, accounting for an increase of 0.75% over the day.
The flagship digital currency is currently trading at $33,773, 5.54% lower on the day, and 21.07% in the last week, with an overall market value of $639.6 billion.