The crypto market cap is once again close to falling below $1 trillion, as Bitcoin prices retraced back below $22,000 yesterday and the market lost more than $100 billion.
Post the Terra Luna collapse and the consequent fall of the market, the upcoming Ethereum Merge saw the crypto market make some recovery. However, the crypto market has started to see a drastic correction in price and the market cap is currently down more than $100 billion.
Also Read: US Institutions Shorting Bitcoin Amid Crypto Market Crash
It is likely that the correction is not over. Bitcoin’s price still may fall down further, with a speculated bottom of $17,600. The weekends will result in low liquidity. If the price of Bitcoin falls below $21,000, then the market cap of crypto will fall below $1 trillion.
