Global Cryptocurrency Market Experiences Unexpected Downturn Following Recent IMF-El Salvador Agreement
news
1 min read
Crypto Crash Alert: Bitcoin Slips Below $96K, Altcoins Tumble
The cryptocurrency market has taken a sudden hit after El Salvador struck a massive deal with the IMF. The country’s agreement to bring adjustments to its Bitcoin policy has sent shockwaves throughout the industry, resulting in a bearish momentum that has taken all major cryptocurrencies down a notch.
Bitcoin (BTC) dipped by a staggering 3.32% and is currently trading at $97,697. Over the past 24 hours, it fluctuated between $95,537 and $102,747. Its market capitalization now stands at $2.05 trillion, with a trading volume that has taken a slight hit at $39.57 billion.
The sudden sell-off was largely driven by a massive outflow of $682.04 million from spot BTC ETFs. Big names like Fidelity and Grayscale were not spared, as they also witnessed significant liquidations.
As the market struggles to find its footing, it’s essential for investors to stay vigilant and prepared for any unexpected twists.
Source: coinpedia.org
