Total crypto market sinks below $2T as analysts eye Bitcoin reversal below $54K

Analysts are eying a potential correction below $54,000 to $50,000, despite growing expectations of an interest rate cut in the

Bitcoin could be heading to a correction below $54,000 after the global crypto market capitalization fell below a key psychological level.

The global crypto market capitalization fell below the $2 trillion mark after decreasing 3.46% in the 24 hours leading up to 10 am UTC, Sept. 4, according to CoinMarketCap data.

Total Crypto market cap, 1-month chart. Source: CoinMarketCap

Analysts are eying a potential correction below $54,000 to $50,000, despite growing expectations of an interest rate cut in the
Bitcoin could be heading to a correction below $54,000 after the global crypto market capitalization fell below a key psychological level.The global crypto market capitalization fell below the $2 trillion mark after decreasing 3.46% in the 24 hours leading up to 10 am UTC, Sept. 4, according to CoinMarketCap data.Total Crypto market cap, 1-month chart. Source: CoinMarketCapRead more