Cryptocurrency Market Sees $500 Billion Drop in a Week

The cryptocurrency market has faced a significant downturn over the past five days, resulting in a loss of around $500 billion in market capitalization. Bitcoin, in particular, has dropped below $73,000, marking its lowest point since the reelection of former U.S. President Donald Trump in November 2024, when there were optimistic expectations for supportive government policies toward digital currencies.

Despite this considerable decline, Bitcoin ETFs attracted $560 million in investments on Monday, the highest level since January 14, indicating that some investors still maintain confidence in the leading cryptocurrency.

On Tuesday, Bitcoin fell by 2.7% to $76,429.12, while Ethereum decreased by 1.75% to $2,276.11. The downturn has affected most cryptocurrencies, leaving the total market capitalization stable at approximately $2.58 trillion, with Bitcoin accounting for $1.5 trillion of that total.

This decline illustrates the high volatility within the market as investors await developments in global politics and their potential impact on the future of cryptocurrencies.