Crypto Week at a Glance: Crypto market feels the blues as GBTC shares unlock

The global crypto market remained in the blues, losing market cap significantly by around $100 billion over the week before regaining partly as the week ended. Market capitalization is now at $1.27 trillion, down from $1.34 trillion at the start of the week.

Bitcoin (BTC), despite its decline, continued to gain dominance this week with a 46.3 percent share of market capitalization in a worrying sign for major altcoins. While BTC ended the week with a 6% decline, major altcoins shed further. Ethereum (ETH), with a 11% drop in the week, fell below $2,000 levels and is currently testing critical support at $1,800. Other prominent altcoins like Polkadot (DOT), Dogecoin (DOGE), Uniswap (UNI), Solana (SOL) and Polygon (MATIC) are down by upwards of 20%.