The past few days in the Bitcoin and crypto market have had a forceful impact from the bears. The prices of most of the crypto assets have been tolling to the south beyond expectation. In addition, the entire market is experiencing a decline due to the collapse of the FTX exchange.

The outcome of the recent events has raised more doubts in the crypto space. Bitcoin is dipping drastically and has gone below the $16K region. However, the altcoins are not left in the bearish trend. Lots of the assets have gone below their critical resistance levels, signifying a potential emergence of draught in the crypto market.

Following the continuous decline, the crypto market has lost about $60 billion in just two days. This has pushed the cumulative market cap to dip below $800 billion. The value sits at $785.71 billion at the press time, indicating a 1.53% drop over the past 24 hours.

For the past fortnight since the FTX fiasco, the crypto market has lost approximately $300 billion. This brought the market cap down from its coveted region of $1 trillion.

(by Sarah)