Bitcoin’s drop to $58K triggered a broader selloff, dragging total crypto market capitalization under $2 trillion.
Bitcoin briefly fell to $58K, pushing the total cryptocurrency market capitalization below $2 trillion. The decline followed a sharp selloff across major digital assets, with altcoins leading losses.
Top-10 altcoins recorded steep declines, including M (-70.8%), ADA (-38.2%), and FET (-37.8%). Other notable losers were APT (-36.5%), BCH (-35.6%), and MNT (-35.4%). The drop extended to mid-cap tokens like ALGO (-33.8%) and INJ (-31.8%).
The move reflects heightened volatility in crypto markets, with traders reacting to macroeconomic uncertainty and liquidation pressures.