Bitcoin Drops Out of Global Top 10 Assets as Market Cap Loses $1.5 Trillion in a Month
Summary
- Bitcoin's market capitalization has fallen by about $1.45 trillion this month, pushing it down to 13th in the global asset rankings.
- Bitcoin has remained under pressure as investor funds recently shifted into precious metals and artificial intelligence-related stocks instead of cryptocurrencies.
- The market capitalizations of AI and semiconductor-related stocks such as TSMC, Broadcom, and Micron Technology have moved ahead of Bitcoin, extending their relative strength.
Forecast Trend Report by Period
Bitcoin's market capitalization has fallen by nearly $1.5 trillion this month, dropping the cryptocurrency to 13th place in the global asset rankings.
Cointelegraph reported on May 29 that Bitcoin fell from the $83,000 range at the start of the month to as low as the $72,000 range on May 28. Its market capitalization declined by about $1.45 trillion over the same period.
The price slide also pushed Bitcoin down to 13th in the global asset rankings, below Tesla, Meta and Saudi Aramco.
Investor funds have recently flowed into precious metals and artificial intelligence-related stocks rather than cryptocurrencies. The shift comes as macroeconomic uncertainty tied to geopolitical tensions surrounding Iran has boosted demand for safe-haven assets.
That backdrop has also helped AI and semiconductor stocks move ahead of Bitcoin. TSMC and Broadcom recently surpassed Bitcoin in market capitalization. Micron Technology's market value also recently climbed above $1 trillion, supported by gains in AI and semiconductor shares.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
