Bitcoin Dips to $83K Highlighting the Week's Major Cryptocurrency Losses

Over the weekend, Bitcoin's price experienced a drop, reaching a multi-day low of $81,600 before undergoing a slight recovery. This followed a period of stagnation around $86,000 and $88,000, and a peak of $88,800 two weeks prior.

This decrease in value affected Bitcoin's market capitalization, reducing it to under $1.630 trillion. Other cryptocurrencies like XRP and ETH also suffered from notable losses, with ETH falling below $1,850 and XRP dropping by 9%. The biggest losses were experienced by PI and HYPE, both falling by over 20% in a week.

Despite these losses, a few exceptions such as TON and SUI saw gains. The overall crypto market cap slipped below $2.8 trillion, marking a $200 billion loss since the previous Monday.