The capitalisation of the total cryptocurrency market stood $60bn (£44.5bn) lower in the 24 hours to noon on Thursday. Having stood at $2.825trn a week ago, the metric fell to $2.51trn, according to CoinMarketCap
Bitcoin traded down by 3.9% to $57,530, unable to sustain itself above the $60,000 benchmark. The world’s first and largest cryptocurrency has fallen by 10.8% over the past week.
Bitcoin’s market capitalisation stood 3.4% lower at $1.109trn, while its trading volume fell by 5.3% to $37.9bn.
Ethereum traded down by 4% to $4,040, 15% below the level seven days ago. The market capitalisation of the world’s second-largest cryptocurrency fell by 3.7% to $477.9bn, while trading volume sank by 18.5% to $18.6bn.
Among the other prominent cryptocurrencies, Shiba Inu and Solana suffered some of the largest losses, falling by 11.9% and 9.8%, respectively. Algorand and Crypto.com bucked the downward trend, rising by 9.8% and 2.1%, respectively.