Bitcoin is down 7.3% over the past week, falling below $20,000 at the start of the day on Monday. Ethereum lost 9.2% to $1450, while top altcoins fell from 5% (Cardano) to 15.7% (Solana).
Total crypto market capitalisation, according to CoinMarketCap, is down 6.6% for the week, to $952bn. The total capitalisation graph suggests that the bear market is not yet over. The Crypto market will finally confirm this hypothesis if the crypto market falls below the lows of June, meaning it is worth less than $800bn. Until then, we can only talk about the ongoing battle for a trillion.
The Cryptocurrency Fear and Greed Index was down to 24 points by Monday, down from 29 a week earlier. It is back in extreme fear territory.
The end of last week asserted Bitcoin's leading role as a risk demand indicator when stock indices dropped sharply on Friday. It is worth noting that since the second half of August, Bitcoin has been "going down the ladder" roughly as it did in April and May, albeit in less broad steps.
