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Crypto Markets Bled $300 Billion in a Day as Bitcoin (BTC) Slumped to $95K (Market Watch)
The cryptocurrency market has suffered a massive blow, with a staggering loss of over $300 billion in just 24 hours. The unexpected downturn was fueled by the sudden and drastic fall of Bitcoin’s price, which plummeted from over $102,000 to $95,200.
Bitcoin’s dramatic slump began on Tuesday as it quickly lost value, dropping five grand in approximately one hour and failing to recover since then. This severe correction has left a significant mark on the overall market capitalization, with the total loss amounting to roughly $1 trillion.
While Bitcoin’s performance was dismal, other major altcoins did not fare much better. Ethereum’s price dropped by a whopping 8%, plummeting from over $3,600 to under $3,400. The cryptocurrency landscape is currently riddled with red, as most altcoins have experienced double-digit losses. Notable decliners include SOL, DOGE, ADA, AVAX, SUI, LINK, HBAR, DOT, and SHIB, each shedding varying amounts of their value.
Meanwhile, XRP and BNB have had a slightly less painful day, with losses of 4.5% and 3.2%, respectively. The only larger-cap alt that has managed to avoid the red tide is LEO.
The total cryptocurrency market capitalization, which stood at $3.76 trillion just yesterday, now finds itself below the $3.5 trillion mark.
Source: cryptopotato.com
