The cryptocurrency market continues to decline. The fall started last week. Over the past 24 hours, capitalization has decreased by almost 9%.

Bitcoin collapsed by almost 7%. Now it costs about $33,000. This is the minimum since July 2021. Over the past week, the main cryptocurrency has lost almost a quarter of the price. Since November 10, when BTC set an all-time high at $69,000, the rate has already fallen by more than two times and is now steadily moving towards $30,000 per coin.

The second largest digital currency by capitalization, Ethereum, fell even more in percentage terms – 12% per day and 33% per week. For the first time in almost six months, the rate fell below $2,200. If the trend continues, then soon the cost of “ether” will be less than $2,000.

Other cryptocurrencies are also not far behind. Solana, which was promised a bright future in 2022, fell more than 40% in a week. Polkadot, Polygon, Avalance and Cardano dropped almost 40% in price. The total market capitalization is $1.5 trillion. The reasons for the sharp fall in the exchange rate on January 24, 2022 have not yet been specified.

A source: CoinMarketCap

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