Crypto Market Capitalization Experiences Notable Decline Following Bitcoin Price Correction
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Crypto Markets Shed $140 Billion as Bitcoin (BTC) Dumps by $4K After Latest Peak
The crypto markets have taken a significant hit, with the total market capitalization dropping by a staggering $140 billion in a matter of hours. The news comes on the back of a dramatic 12-hour period where Bitcoin (BTC) dropped by over $4,000, causing widespread panic and uncertainty across the community.
Bitcoin’s latest peak was marked yesterday when it reached an all-time high above $108,000. However, the asset has since corrected sharply, plummeting to just over $104,000. This massive drop of nearly 3.7% is a stark contrast to its previous upward momentum that saw it breach the six-digit mark for the first time.
The market capitalization of all crypto assets came incredibly close to $4 trillion yesterday but has since shed approximately $150 billion, now standing at just under $3.85 trillion. This dramatic downturn has caused widespread losses across the board, with Ethereum (ETH) dropping by 4% and currently trading around $3,850.
Ripple’s XRP has also fallen victim to the market volatility, losing a significant 2.5% of its value and now hovering at around $2.52. Other notable altcoins such as SOL, ADA, TRX, AVAX, SHIB, TON, SUI, XLM, DOT, and APT are all experiencing losses ranging from 4-9%.
The market’s correction has also caused a ripple effect across the broader cryptocurrency market, resulting in significant losses for holders of these assets.
Source: cryptopotato.com
