Crypto Market Cap Falls to $3.7 Trillion Amid Price Decline

The crypto market experienced significant bearish pressure starting August 28, with major assets reaching new lows by August 29. Bitcoin's price fell to $107,850.

Market Analysis

Crypto-related searches on Google surged, indicating potential local tops for Bitcoin and the broader market.
Historical data suggests that increased public interest often coincides with market sell-offs by large investors.
The recent price decline may signal a new local top in the market.
Despite this downturn, other indicators do not confirm the end of the current bull cycle.
Investors are advised to exit at high prices and consider reentering at lower rates.

Market Capitalization

The total crypto market cap is approximately $3.7 trillion, with a nearly 4% decline in the past day. Over $142 billion has exited the market in the last 24 hours.