Bitcoin (BTC) Price Crashes 11% in Biggest Weekly Loss Since 2022, Altcoins Tumble

Bitcoin has slipped 11.45% in the past 24 hours to trade at $53,628.72. It is nearly 23% lower than the week before.

Bitcoin slipped over 11% on Monday in its biggest weekly loss since 2022, as a recent rally in the world's largest cryptocurrency stalled amid a broader sell-off in riskier assets.

Bitcoin's 24-hour loss stood at 11.45%, and the cryptocurrency was trading at $53,628.72. It has shed nearly 23% so far this week.

The second most popular cryptocurrency, Ethereum, slipped 19.47% in the past 24 hours to $2,338.17. It has lost about 30% this week.

Bitcoin's market capitalization now stands at $1,056 billion, while Ethereum's market cap is at $281 billion.

Here's how other popular cryptocurrencies fared on Monday:

BNB slipped 16.41% in 24 hours to $440.38 and lost 25.51% this week.

XRP fell 14.27% to $0.44 in 24 hours, down 21.36% this week.

Cardano slipped 14.93% to $0.33, while Dogecoin lost 14.77% to $0.099.

Solana slipped 36% this week

Solana, Polka Dot, Shiba Inu, and Polygon slipped 13.14% to $124.24, 20.97% to $3.98, 13.95% to $0.000011, and 18.82% to $0.33, respectively.

Solana slipped 35.83% this week on the weekly chart, while Polka Dot lost 31.74%.

Shiba Inu's value declined 29.46% in the last seven days, while Polygon slipped 28.79%.

Top 5 losers of the day

Bittensor, Ethereum Name Service, Lido DAO, Arbitrum, and KuCoin Token slipped 23.54% to $191.33, 22.21% to $15.91, 22.20% to $1.04, 22.08% to $0.44, and 21.86% to $6.88, respectively.

Leading DeFi tokens today

DeFi, short for decentralized finance, pertains to global, peer-to-peer financial services on public blockchains.

Avalanche, Chainlink, Dai, Internet Computer, and Uniswap are some of the popular DeFi tokens. They slipped 16.72% to $18.95, 21.06% to $9.24, rose 0% to $0.99, 11.55% to $6.97, and 18.52% to $5.41, respectively.

A glance at today's top 5 NFT tokens

Non-fungible tokens or NFTs are cryptocurrencies that cannot be exchanged for one another like other tokens due to their lack of fungibility.

Internet Computer, Artificial Superintelligence Alliance, Stacks, Immutable, and Render are some of the popular NFT tokens. They slipped 11.55% to $6.97, 18.15% to $0.88, 17.77% to $1.22, 16.25% to $1.01, and 20.57% to $3.96, respectively.

Total cryptocurrency market capitalization

The current global crypto market cap is $2.05 trillion, a 4.59% increase over the last day.

The total crypto market volume over the last 24 hours is $77.9 billion, which marks a 6.9% increase.

The global cryptocurrency market valuation was $2.09 trillion last month, in comparison to $2.35 trillion three months ago.

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