Bitcoin’s BTC latest drawdown to $72,000 Its market capitalization has dropped sharply, and it is now out of the world’s top 10 most valuable assets.
The key take-aways
- Bitcoin dropped to the 13th position among global assets when its market capitalization fell below $1.5 trillion.
- After investors switched, gold, silver, and AI stocks have outperformed Bitcoin.
- Bitcoin’s imminent realized price death crossing could signal a further downward risk to BTC.
Bitcoin market cap falls below $1.5 trillion
Bitcoins’ price dropped dramatically from about $83,000 early in May down to just $72,400 Thursday. Its market capitalization fell to $1.45 billion from $1.66.
Bitcoin Market Cap, Dollars Source: Cointelegraph/TradingView
The leading cryptocurrency, which was ranked number 10 globally by its market capital, has now dropped to the thirteenth position.
Related: Bitcoin’s major holders halt buys as demand slows: CryptoQuant
Bitcoin now ranks below Saudi Aramco (Saudi Aramco), Tesla (Tesla) and Meta Platforms. This reflects a broad rotation of the capital away from cryptocurrency amid strong returns in AI stocks and precious materials.
The top global assets by Market Cap. Source: Companiesmarketcap.com
BTC’s recent price drop comes amid fresh geopolitical tensions You can also find out more about the following: growing macroeconomic uncertaintiesThis coincides with the rally of precious metals up to historic highs. It shows an increasing demand for traditional assets that are considered safe.
Gold surged to an all-time high of $5,600 Silver, which reached as high at $120 per an ounce as recently as January, now sells for around $76.
The table shows that these rallies helped gold and silver become the largest assets worldwide by market cap.
The semiconductor industry and Artificial Intelligence stocks are also significantly outperformed Bitcoin will be overtaken by companies like Broadcom and Taiwan Semiconductor Manufacturing Company in the market capitalization in 2026.
Micron Technology, a semiconductor and AI-driven company, recently crossed $1 trillion in valuation.
“Things are starting to look scary,” 0xMarioNawfal said In a post on Thursday X, referring Bitcoin’s position currently in the global rankings.
Manly, a fellow analyst had an opposing view. saying The drop in price does not change the scarcity of Bitcoin as a factor that is long-term positive, FExir said,
“This must be a bottom signal.”
Bitcoin’s “death cross” More pain to come
Bitcoin’s actual price is the average of all coins currently in circulation. “death cross,” According to analyst Axel Adler Jr.
Bitcoin’s chart shows signs of exhaustion, with an impending dead-cross between the price realized and the moving average for 365 days.
Last time this indicator showed a bearish crossover, it was during the bear market of 2022, just before a decline by 52% to $15,000 from $69,000. The loss was also 52% when the global drawdown in 2018 occurred.
Bitcoin price realized with a pending transaction “death cross.” Source: AxelAdlerJr
It is important to note that the crossover in both situations occurred following a rapid drop of the BTC value towards the price realized.
Bitcoin’s current price is $54,200 which is 35 percent above the actual value. A 52% decline from this level would take BTC to low $30,000. analysts argue is unlikely.
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Source: cointelegraph.com
