Cryptocurrency markets are facing challenging conditions with Bitcoin falling to a new low around $57,000 in the last few hours. Altcoins also accompany this decline with huge losses, and the total market value has lost over $200 billion in the last 36 hours. 📉

Bitcoin's price rose to $65,000 on Monday morning but was unable to break through that level, and the next 36 hours were pretty rough. Bitcoin dropped to the $62,000 level, which was to be expected because the asset had fallen to this level several times in the past month. However, there was another decline and the value of Bitcoin dropped to $ 59,100.

After a short rise, BTC fell again in the last 1-2 hours. This time, the bears have pushed it down to just above $57,000, which is currently the lowest price since February 28. This latest decline comes ahead of the US FOMC meeting, which usually causes big swings in the market. 🐻

BTC is down 9% on the day, down 14% from this time last week. Its market cap has fallen to $1.130 trillion and its dominance over altcoins continues at 50.5%.

Most alternative cryptocurrencies also followed BTC's decline. Ethereum was above $3,200 after Hong Kong spot ETFs went live yesterday but has since fallen more than $300 to below $2,900. Binance Coin lost the $600 level and is now down to $550.

Total cryptocurrency market cap dropped to $2.240 trillion. This means the metric has lost over $200 billion in value since Monday morning and is at its lowest level since February.