Bitcoin’s situation once again worsened an hour ago as the asset plunged to a three-month low below $41,000. Most altcoins are in a similar position today, with total losses increasing to $300 billion over the past three days.
Bitcoin’s latest 3-month low
It is safe to say that the primary cryptocurrency has seen better days. In fact, they were not that long ago as on Thursday it was trading at $47,000 and on Wednesday it even tried its hand at $48,000.
However, the bears were completely controlled in the next 72 hours. As reported, he first dropped BTC below $4,000 before another drop lowered the asset below $42,000.
Yesterday looked like a consolidation day as bitcoin was hovering around $42,000 for some time. However, this did not last long as BTC took a dive once again. This time, it dropped to $40,500, which became the lowest price line since the end of September 2021.
So far, the cryptocurrency has recovered some ground and is about $1,000 more. Nevertheless, its market capitalization is still below $800 billion.
Keep Dumping Altcoins
Alternative coins have suffered just as badly as BTC, if not worse. Ethereum was above $3,800, but it is now above $3,100 after a 3% drop from yesterday.
Binance Coin is down 5.5% and is struggling at $430. Solana (-4%), Cardano (-6%), Ripple (-3.5%), Polkadot (-5.5%), Terra (-1%), Avalanche (-5.5%), Dogecoin (-4%), Sheba Inu (-5%), and MATIC (-6%) are also in deep red.
Chainlink, the best performer of yesterday, is the only large-cap alt that has endured this market correction without substantial losses.
In contrast, Phantom (-12%), Oasis Network (-11%), Helium (-11%), NEAR Protocol (-11%), Zcash (-10%), Ravencoin (-10%) would suffer further losses. Is. , Gala (-10%), Looping (-10%), and many others.
The cumulative market cap of all cryptocurrency assets has dropped to $1.950 trillion. This means the metric has lost nearly $300 billion since the correction began three days ago.
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