The market capitalization of Bitcoin, which is undergoing a major correction after recently surpassing the important psychological barrier of $60,000, has slid below $1 trillion.
Bitcoin, which reached $60,100 for the first time in its history on March 13, has experienced a 12.5% drop since then, and has dragged the rest of the crypto market down with it.
As a result of this correction, the market capitalization of the asset, which surpassed $1 trillion for the first time last February 19, has fallen back below this level. In particular, it currently stands at $954,427,278,534.
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According to data provided by CoinGecko, the asset's capitalization has fallen $140 billion over the past seven days.
Interestingly, popular crypto analyst Willy Woo forecasted just a few days ago that BTC's capitalization would not fall below this level again.
As far as the capitalization of the whole cryptocurrency market is concerned, it currently stands at $1.602 trillion.