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Crypto Markets Shed $140 Billion as Bitcoin (BTC) Dumps by $4K After Latest Peak (Market Watch)
The cryptocurrency market has taken a drastic turn, with the collective market capitalization dropping by approximately $150 billion in just a day. The sudden and sharp correction is a stark contrast to the recent rallies that saw it approach an impressive $4 trillion milestone.
Bitcoin’s (BTC) spectacular run came to an abrupt end as it took a nosedive of over four thousand dollars, wiping out nearly 3% of its value. This significant downturn has brought its market capitalization down from a historic high of $2.060 trillion on CoinGecko (CG) to around $2.020 trillion.
Following the dominant cryptocurrency’s lead, many altcoins have also entered correction mode. Ethereum (ETH), for instance, is now trading at just over $3,850 after shedding 4% in value. XRP has slipped by a less severe 2.5% to trade at $2.52, while Solana (SOL) has dropped to around $216.
Other notable altcoins like Cardano’s ADA, Tron’s TRX, Avalanche’s AVAX, and others have also seen substantial losses, with some experiencing declines of up to 9%. The usually resilient SHIB token is struggling to maintain a foothold above $0.0000215, its value now sharply plummeted.
The overall crypto market capitalization has retreated from the vicinity of $4 trillion yesterday to around $3.85 trillion currently.
Source: cryptopotato.com
