Nothing seems to be stopping the fall of Bitcoin anymore!


Bitcoin fell below $34,000 after seeing a slight rebound over the weekend. This price drop is the latest episode of a brutal start to 2022 for the entire cryptocurrency market.

On January 22, bitcoin fell to $34,500 before rebounding slightly to open today at a price of $36,300. The optimism was short-lived, however, as the leading cryptocurrency has now dropped to $33,707. This marks a percentage drop of 5.7% over the past 24 hours.

The current bitcoin price is far from its all-time high of $69,000reached in November 2021.

In fact, the last time bitcoin traded at this price, it was in July 2021.

Since then, the flagship cryptocurrency has climbed to its all-time high in November, marking a 130% increase in around four months.

Broad market capitalization also fell nearly 8%, dividing almost halving its total value since November 2021. At that time, the market had peaked with a capitalization of over $3 trillion; today, this figure is closer to $1.6 trillion.

Bitcoin’s market share has also declined since November, if only slightly. On November 1, the major cryptocurrency held around 42% of the entire market. Today, it holds 39% of the market, according to CoinGecko.

Starting the year at around $46,000, bitcoin has since fallen an impressive 26% so far.

The rest of the crypto market was not luckier either. In the past week alone, Ethereum (ETH) and Cardano (ADA) have fallen by 32% and 29%, respectively. Solana (SOL) lost more than 40% last week.