(BTC) fell Nearly $34,000 by Jan. 21,The price represents a 50% drop from the record $69,000 set on November 10, 2021. Altcoins could not resist the trend, and were subject to intense selling pressure. This pushed the crypto market capitalization total to $1.6 trillion. That’s a 46% decrease from the November 2021 high of $3 trillion.

Investors are not just selling crypto markets. The S&P 500 has also plummeted 8% year-to-date. But gold outperformed the market and rose by about 1.76% over that time, making it a safer asset.