The leading cryptocurrency Bitcoin (BTC) has experienced a drop again this morning, recording a loss of over 2% in the last 24 hours and trading at levels around $28,500. The total market value of the cryptocurrency ecosystem has dropped to $1.13 trillion, according to CoinMarketCap (CMC) data.
Bitcoin (BTC) Falls to Critical Levels Again
The cryptocurrency market, which started rising earlier this week, has experienced another drop this morning. The leading cryptocurrency Bitcoin (BTC) has lost over 2% in the last 24 hours, trading at levels around $28,500. Most altcoins in the cryptocurrency market have accelerated their losses and experienced a downward momentum due to Bitcoin’s fall to critical price levels. Some cryptocurrencies have recorded double-digit losses during the day, influenced by this downward trend in the cryptocurrency market.
Furthermore, the total market value of the cryptocurrency industry has dropped to $1.13 trillion, according to CoinMarketCap (CMC) data. Volatility in the cryptocurrency market has increased compared to the beginning of the week, with an average of $150 million worth of short and long positions liquidated, according to Coinglass.
Cryptocurrency Market in Decline
With their latest losses, Ethereum (ETH) has fallen to $1,785, BNB to $230, XRP to $0.58, Cardano (ADA) to $0.27, Dogecoin (DOGE) to $0.067, Solana (SOL) to $23, and TRON (TRX) to $0.074.
Additionally, several cryptocurrencies have experienced significant losses during the day due to the downward trend in the cryptocurrency market. Conflux (CFX), Shiba Inu (SHIB), Uniswap (UNI), Compound (COMP), and Bitcoin Cash (BCH) are among the cryptocurrencies with the highest market value that have recorded the highest percentage of losses, according to CMC data.
