Bitcoins price continues its downturn that started on Friday, and the asset slumped to a two-week low of just over $81,000 earlier today.

The altcoins have taken this beating even worse, with many posting double-digit price declines on a weekly scale, pushing the total market cap south to $2.750 billion.

BTC Keeps Plunging

A lot can change in the cryptocurrency markets within the span of a week, and this narrative proved right once again in the past seven days. Recall that bitcoin shot up to $88,800 last Monday, which became its highest price tag in over two weeks.

Although it faced rejection there, it remained above $86,000 for the next several days. Tha was until Friday when the $86,000 support gave in and BTC started losing value gradually. The weekly culmination came during the weekend when bitcoin slipped to $81,600.

Although it bounced off initially and went above $83,000 on Sunday, the bears regained control on Monday morning with another leg down. This time, BTC went even further south to $81,300 (on Bitstamp), which became a new two-week low.

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Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! As of now, BTC struggles to remain above $82,000, trading seven grand lower than this time last week. Its market capitalization has plunged to $1.630 trillion on CG, but its dominance over the altcoins is up to 59.2%.

Altcoins on a Downfall

The growing BTC dominance in times of market retracement means only one thing alts have it worse. The biggest losers from the larger caps are SUI, HBAR, LEO, and XRP, with price declines of up to 8%.

DOGE, ADA, BNB, LINK, and XLM are also in the red on a daily scale, but in a less painful manner. However, the weekly chart is a lot more violent. ETH, XRP, ADA, LINK, AVAX, HBAR, and LTC have all plunged by double-digits.

In contrast, CRO has gained 20% while TON is up by 6%. Nevertheless, the total crypto market cap has wiped out $250 billion since last Mondays peak and is down to $2.750 trillion on CG.

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Cryptocurrency charts by TradingView.