Liquidations knock Bitcoin out of world’s top 10 assets - Source: CoinTelegraph

Bitcoin’s sharp reversal this week has pushed it outside the world’s 10 largest assets by market capitalization, underscoring how difficult price action has been in recent months as markets continue to digest the cryptocurrency industry’s largest forced liquidation on record.

Hovering around $83,000 per coin, Bitcoin’s market capitalization has slipped to about $1.65 trillion, ranking it 11th globally. That places it just behind Saudi Aramco, the state-run oil giant, and below Taiwan Semiconductor Manufacturing Co. (TSMC), according to market data trackers.

By contrast, gold has surged to the top spot by a wide margin following a record-breaking rally, cementing its position as the world’s largest asset. The gains have been accompanied by explosive growth in gold futures activity, a trend highlighted in recent data by cryptocurrency exchange MEXC.

Story and charts continue: https://cointelegraph.com/news/liquidations-knock-bitcoin-out-world-top-10-assets