Digital assets are tumbling, with the combined crypto cap losing 4.5% in the past 24 hours.<\/p>\n
The combined crypto capitalization is down 16% from its local high of $1.81B on Jan. 12 \u2014 a milestone posted one day after the freshly launched spot Bitcoin ETFs\u00a0began trading<\/a>\u00a0\u2014 to currently sit at $1.52B, according to CoinMarketCap.<\/p>\n While Bitcoin (BTC) suffered outsized losses following the launch of the first spot Bitcoin ETFs two weeks ago \u2014 ranking\u00a099th<\/a>\u00a0among the top 100 crypto assets by market cap according to price performance one week later \u2014 BTC is now the 77th best-performing top 100 cryptocurrency of the past 24 hours, including stablecoins.<\/p>\n <\/p>\n BTC last changed hands for $38,630, its lowest level since Dec 1, after shedding 5% in 24 hours and 10% in seven days, according to CoinGecko.<\/p>\n For comparison, ETH is down 8% on the daily chart and 14% in the past week. ETH last traded for $2,180, tagging its lowest level for January.<\/p>\n However, assets within the Bitcoin ecosystem continue to post outsized losses. Bitcoin ordinals were the two worst-performing top 100 assets of the past 24 hours, with Ordi (ORDI) and Sats both shedding 17%. Stacks, an\u00a0EVM-compatible<\/a>\u00a0Bitcoin layer, also posted the 13th heaviest losses among leading assets with a 12% drawdown.<\/p>\n Chiliz (CHZ) and Bittensor (TAO) were the lone cryptocurrencies to post a gain of more than 1%, rallying 2.3% and 4.4% for the past day respectively.<\/p>\n
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