bitcoinBTC/USD
$ 20,365.00
ethereumETH/USD
$ 1,164.48
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.468477
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BTC and ETH Suffer Double-Digit Drops as the Crypto Crisis Persists

As the crash of the cryptocurrency market shows no signs of stopping, cryptocurrencies such as BTC and ETH have suffered double-digit drops. 

As the crash of the cryptocurrency market shows no signs of stopping, cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have suffered double-digit drops. 

The crash that has plagued the cryptocurrency market since yesterday has resulted in quite the turmoil, having the 10 biggest cryptocurrencies by market capitalization experience double-digit losses in the last 24 hours.

Per the CoinGecko data, Bitcoin (BTC) is trading presently at roughly $46,000, having incurred an 18% dive. Ethereum (ETH) is trading at $3,870, equivalent to a 15% downturn. Polkadot (DOT) appears to be the biggest loser of the bunch, as it is trading at $27.47, incurring a dip of nearly 24%. From the staggering ATH of November, Bitcoin (BTC) has incurred a 32% dive. 

The drop has depleted the overall market capitalization of all cryptocurrencies, which in a 24 period has fallen by 16% to a little above $2.3 trillion. The market cap of cryptocurrencies skyrocketed to $3 trillion when Bitcoin (BTC) hit an ATH in November. 

The crypto and stock market prices have fallen in lockstep. The technology stocks suffered a 2% dive on NASDAQ, as the global outbreak of the Omicron strain of Covid-19 has revived economic worries. Similarly, in combatting the surge in inflation, the Federal Reserve is expected to raise interest rates.

Also read: 

Stop Printing Money – El Salvador President’s Request to the Federal Reserve Chair

BTC to Reach $45 trillion in 2021, Doubling the Value of Former Years

Massive Sell-Off Aftermath: Scaramucci Says “This is a Buying Opportunity”

Amid Increasing Covid-19 Fears Crypto Market Cap Loses $200 Billion and Wall Street Futures Fall

El Salvador President Acquires an Additional 150 BTC

Also read:

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