Bitcoin Falls to New Weekly Low, Ethereum Falls to $1,100

Almost all digital assets are in the negative, bringing the crypto market size below $800 billion.

Bitcoin plummeted to around $16,000 after several days of stability.

ETH dropped below $1,100 for the first time in ten days.

Bitcoin declines
After the FTX collapse caused instability last week, bitcoin remained around $17,000 for several days. The asset tried to lower it several times but failed.

After Friday's rejection, BTC traded at $16,600 for two days. Bears retook control of the market in the past 24 hours.

Bitcoin fell below $16,000 for the first time in almost a week. The asset trades around that line again, although its market valuation is near $300 billion. BTC's market dominance has climbed to 38.7% as most alts have drained out.

The recent price losses came amid fears that bitcoin might fall to $9,500 if it mimics prior bear markets.