Bitcoin\u2019s (BTC) latest drawdown to $72,000<\/span><\/a> has coincided with a sharp drop in its market capitalization, pushing it out of the global top 10 assets by market cap.<\/p>\n Key takeaways:<\/strong><\/p>\n Bitcoin\u2019s price has dropped sharply from around $83,000 in early May to as low as $72,400 on Thursday. This was accompanied by a fall in its market capitalization to $1.45 trillion from $1.66 trillion.<\/p>\n Bitcoin market cap, USD. Source: Cointelegraph\/<\/em>TradingView<\/em><\/span><\/a><\/p>\n As a result, the leading cryptocurrency has slipped out of the world\u2019s top 10 assets by market cap, ranking thirteenth globally.\u00a0<\/p>\n Related: <\/strong><\/em>Bitcoin\u2019s major holders halt buys as demand slows: CryptoQuant<\/strong><\/em><\/span><\/a><\/p>\n Bitcoin is now below Saudi Aramco, Tesla and Meta Platforms, reflecting a broader rotation of capital away from crypto amid strong performance in AI-driven stocks and precious metals.<\/p>\n Top global assets by market cap. Source: Companiesmarketcap.com<\/em><\/p>\n The recent BTC price decline comes amid fresh geopolitical tensions<\/a> and growing macroeconomic uncertainties<\/span><\/a>, coinciding with a rally in precious metals to historical highs, showing increasing demand for traditional safe-haven assets.<\/p>\n Gold surged to an all-time high of $5,600<\/a> per ounce in January before easing back to around $4,486, while silver climbed as high as $120 per ounce and now trades near $76.\u00a0<\/p>\n These rallies in metals pushed gold and silver to become the world\u2019s largest and fifth-largest assets by market cap, respectively, as shown in the table above.<\/p>\n Artificial intelligence and semiconductor stocks have also significantly outperformed<\/a> Bitcoin in 2026, with companies such as Taiwan Semiconductor Manufacturing Company (TSMC) and Broadcom (AVGO) overtaking BTC in market cap.\u00a0<\/p>\n Meanwhile, Micron Technology recently crossed the $1 trillion valuation mark amid the ongoing AI and semiconductor-driven rally.<\/p>\n \u201cThings are starting to look scary,\u201d 0xMarioNawfal said<\/span><\/a> in a Thursday X post, referring to Bitcoin\u2019s current position in global rankings.<\/p>\n Fellow analyst Manly had a contrary view, saying<\/span><\/a> that the drop doesn\u2019t change Bitcoin\u2019s scarcity as a long-term bullish factor, while\u00a0 F<\/a>exir said<\/span><\/a>, <\/p>\n \u201cThis must be a bottom signal.\u201d<\/p><\/blockquote>\n Bitcoin\u2019s realized price, average cost basis of all coins in circulation, is about to print a \u201cdeath cross,\u201d\u00a0 indicating waning momentum, according to analyst Axel Adler Jr.<\/a><\/p>\n The chart below shows that Bitcoin is showing signs of exhaustion with a pending dead cross between its realized price and the 365-day moving average.\u00a0<\/p>\n The last time the indicator produced this bearish crossover was in the middle of the 2022 bear market, preceding a 52% decline to $15,500 from $69,000. The losses were also 52% during the 2018 macro drawdown.<\/p>\n Bitcoin realized price with a pending \u201cdeath cross.\u201d Source: AxelAdlerJr<\/em><\/p>\n Note that in both instances, the crossover followed a sharp drop in BTC price toward the realized price.\u00a0<\/p>\n\n
Bitcoin\u2019s market cap drops below $1.5 trillion<\/h2>\n
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<\/figure>\n<\/p>\nBitcoin\u2019s \u201cdeath cross\u201d warns of more pain ahead<\/h2>\n
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