Crypto Markets Lose $150 Billion as Bitcoin Slips Under $117K: A Market Analysis

After reaching a record high of nearly $119,000, Bitcoin has corrected its value, dropping over $6,000 since the peak. Altcoins such as DOGE, BCH, SOL, SHIB, CRO, APT, and others have followed the trend with significant price declines. The fall in Bitcoin's value occurred after it surged past $120,000 to a new all-time high of just over $123,000.

However, warning signs began to appear, including political tension between Russia and Ukraine. Consequently, Bitcoin's price fell below $117,000, where it remains. This dip has caused the cryptocurrency's market cap to retract to $2.320 trillion, with dominance over altcoins at 62.1%. Concurrently, the aggregate market cap of all crypto assets has decreased by approximately $150 billion to less than $3.750 trillion.