$800 Billion Crypto Crash: Why Bitcoin, Ethereum, XRP and Altcoins Are Falling 📉
The cryptocurrency market has experienced a significant and rapid downturn, erasing nearly $800 billion in value within just 24 hours. This dramatic decline in the market has been marked by a substantial $19.2 billion liquidation of leveraged positions, fueling panic across various exchanges.
Bitcoin's price has plunged steeply to $110,951, constituting a 16% drop. Meanwhile, Ethereum has also seen a sharp decline, slipping to $3,795, representing a fall of more than 12%. The total cryptocurrency market capitalization now stands at $3.69 trillion, reflecting the widespread impact of this downturn.
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