The latest version of Bitcoin (BTC). payment of up to $72,000 coincided with a acute decline in the company’s market capitalization, pushing it out of the world’s 10 largest assets by market capitalization.
Key takeaways:
- Bitcoin dropped to 13th place among global assets after its market capitalization fell below $1.5 trillion.
- Gold, silver and artificial intelligence stocks performed better than Bitcoin after investor rotation.
- Bitcoin’s pending realized price death cross could signal further downside risk to the BTC price.
Bitcoin’s market capitalization falls below $1.5 trillion
Bitcoin’s price plummeted from around $83,000 in early May to as low as $72,400 on Thursday. This was accompanied by a decline in market capitalization to $1.45 trillion from $1.66 trillion.
Bitcoin market capitalization, USD. Source: Cointelegraph/TradingView
As a result, the leading cryptocurrency dropped out of the world’s 10 largest assets by market capitalization, ranking thirteenth in the world.
Related: Major Bitcoin holders pause purchases as demand declines: CryptoQuant
Bitcoin is currently trading below Saudi Aramco, Tesla and Meta platforms, reflecting a broader rotation of capital away from cryptocurrencies amid the forceful performance of AI-powered stocks and precious metals.
Largest global assets by market capitalization. Source: companiesmarketcap.com
The recent decline in BTC prices is due to modern geopolitical tensions growing macroeconomic uncertaintycoincided with precious metal prices rising to historic highs, pointing to growing demand for conventional safe-haven assets.
Gold hit an all-time high of $5,600 an ounce in January before falling to around $4,486, while silver rose as high as $120 an ounce and is now trading near $76.
These increases in metal prices have made gold and silver the largest and fifth largest assets in the world by market capitalization, respectively, as shown in the table above.
Artificial intelligence and semiconductor stocks have also significantly outperformed Bitcoin in 2026, with companies like Taiwan Semiconductor Manufacturing Company (TSMC) and Broadcom (AVGO) overtaking BTC in terms of market capitalization.
Meanwhile, Micron Technology recently crossed the $1 trillion mark amid ongoing economic growth fueled by artificial intelligence and semiconductors.
“The situation is starting to look scary” – 0xMarioNawfal he said in Thursday’s post X, referring to Bitcoin’s current position in the global rankings.
Another Manly analyst had a different opinion, saying that the decline does not change Bitcoin’s scarcity as a long-term bullish factor, while FExit he said,
“It must be the down signal.”
Bitcoin’s ‘death cross’ warns of greater pain in the future
Bitcoin’s realized price, the basis for the average cost of all coins in circulation, will soon print a “death cross”, indicating waning momentum, according to analyst Axel Adler Jr.
The chart below shows that Bitcoin is showing signs of exhaustion with a pending dead crossover between the realized price and the 365-day moving average.
The last time the indicator produced this bearish move was in the middle of the 2022 bear market, preceding a 52% decline to $15,500 from $69,000. Losses were also 52% during the 2018 macro drawdown.
Bitcoin has priced with a pending “death cross”. Source: AxelAdlerJr
It is vital to note that in both cases, the crossover occurred after the BTC price dropped sharply towards the realized price.
Bitcoin is currently trading 35% above its realized price of $54,200. This means that a 52% drop from around this level could see BTC’s price drop to the low $30,000s, a phenomenon that many analysts say this is unlikely.
