The global cryptocurrency market capitalization dropped by 2.18%, settling at approximately $2.1 trillion on Thursday amid volatile price movements that dragged Bitcoin lower.
Bitcoin, currently trading at $60,500, has seen a 6% loss in market value over the past six days, reflecting negative momentum. According to data from CoinMarketCap, the total crypto market volume in the past 24 hours reached $93.47 billion, marking a 21.73% decrease compared to the previous day.
Decentralized Finance (DeFi) accounted for $5.07 billion of the total market volume, representing 5.42% of the 24-hour crypto trading volume. Stablecoins, meanwhile, saw $85.77 billion in transactions, making up 91.76% of the total market volume.
On Wednesday, the broader crypto market remained in the red, with Bitcoin approaching $60,000. The CoinDesk Market Index, which tracks 134 digital assets, fell by 2.9% in the last 24 hours, even as US stock indexes edged higher. The Nasdaq 100 rose by 0.3%, while the S&P 500 and Dow Jones Industrial Average both gained about 0.1%.
Bitcoin slipped 2.6% to $60,189, while Ethereum, the second-largest cryptocurrency, dropped 4.9% to $2,375. Other notable assets also faced declines: BNB lost 2.1%, Solana tumbled 4.8%, XRP sank 5.5%, Cardano slid 4.7%, and Dogecoin dipped 1.6%.
Meanwhile, the US 10-year Treasury yield closed at 3.783%, up from Tuesday’s close of 3.741%, with the five-year yield rising to 3.552% from 3.521%.
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