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The crypto market capitalization fell over the last seven days although slight upticks have been recorded today as the price rebounds. The total market cap plunged 5.2% this week as sentiments plummeted across Bitcoin (BTC), altcoins, and memecoins.&nbsp; 
The low sentiments saw the price of Bitcoin drop below $61,000 although net inflows have been recorded in multiple assets. Despite the crypto market’s bottom, several bulls are keen on a future market rise with the increased market and macroeconomic conditions.&nbsp; 
<h2 id="span-style-font-weight-400-strong-bitcoin-and-altcoins-post-weekly-losses-strong-span">Bitcoin and Altcoins Post Weekly Losses&nbsp;</h2> 
The wider crypto market recorded lows with some assets showing double-digit losses. Market leader Bitcoin saw 0.9% weekly losses as its 2% daily gains wiped off losses. Recent flows place the monthly performance of BTC in the green zone above 1.3%. 
<img decoding="async" class="aligncenter size-full wp-image-196761" src="https://coingape.com/wp-content/uploads/2024/05/BTC_7D_graph_coinmarketcap-2.jpeg" alt="" width="1200" height="800" srcset="https://coingape.com/wp-content/uploads/2024/05/BTC_7D_graph_coinmarketcap-2.jpeg 1200w, https://coingape.com/wp-content/uploads/2024/05/BTC_7D_graph_coinmarketcap-2-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/BTC_7D_graph_coinmarketcap-2-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/BTC_7D_graph_coinmarketcap-2-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2024/05/BTC_7D_graph_coinmarketcap-2-272x182.jpeg 272w" sizes="(max-width: 1200px) 100vw, 1200px"> 
Ethereum and Solana posted weekly outflows of 4.30% and 4.50% respectively. Both assets have also seen daily gains as the crypto market picked up on Monday. Ethereum has seen short-term losses due to reduced institutional investment in its products. Despite anticipation, for spot <a href="https://coingape.com/spot-ethereum-etf-applicants-to-meet-us-sec-eth-price-to-rebound/" target="_blank" rel="noopener">Ethereum ETFs</a>, sentiments have slowed in recent weeks.&nbsp; 
Ripple (XRP) tanked 6.85% in the last seven days amid its ongoing lawsuit with the Securities and Exchange Commission (SEC). Avalanche (AVAX) and Chainlink (LINK) posted larger weekly losses of 12.92% and 8.27%. Memecoins also recorded plunging figures as investors moved funds away from risky assets. Dogecoin (<a rel="nofollow" href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank">DOGE</a>) and Shiba Inu (SHIB) showed losses of 5% and 3% respectively.&nbsp; 
Amid falling figures, Toncoin (TON) and TRON (TRX) traded against the market with gains in the last seven days.&nbsp; 
<h2 id="strong-factors-behind-the-crypto-market-strong">Factors Behind The Crypto Market</h2> 
The short-term fall in the crypto market cap was due to reduced institutional investment in the market as a result of plunging sentiment. The SEC’s approach to crypto regulation has made investors skeptical of the market.&nbsp; 
Despite this plunge, crypto bulls tip a run on the back of an anticipated increase in <a href="https://coingape.com/bitcoin-btc-relevance-and-macroeconomic-boost-heres-the-correlation/" target="_blank" rel="noopener">macroeconomic factors</a>. The stock market has also seen slight upticks with uses anticipated similar inflows to stocks.&nbsp; 
Also Read: <a href="https://coingape.com/trending/4-altcoins-to-buy-before-altcoin-season-starts/" target="_blank" rel="noopener">4 Altcoins To Buy Before Altcoin Season Starts </a> 
The post <a href="https://coingape.com/trending/crypto-market-cap-slumps-5-2-in-seven-days/">Crypto Market Cap Slumps 5% in Seven Days</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Crypto Market Cap Slumps 5% in Seven Days

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