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Any dip buyers left? Bulls are largely absent as the total crypto market cap drops to $1.65T -Breaking

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Any dip buyers left? The total cryptocurrency market cap has dropped to $1.65T and bulls are not present.

For 24 days, the total cryptocurrency market capitalization traded in a downward channel. The $1.65 trillion support level was tested again on May 6. Following the drop to $1.65 billion, (BTCIts lowest price in seven days is $35,550.

Market cap total for crypto, US$ billion TradingView

The aggregate market capitalization for all cryptocurrency fell 6% in seven days. However, this small correction does not reflect any mid-capitalization altcoins that lost 19% in the same period.

Weekly winners and losers from the top 80 coins Source: Nomics
(USDT) peer-to-peer vs. . Source: OKX
Achieved 7-day perpetual futures financing rate Source: Coinglass