Bitcoin price, Ethereum and other major cryptocurrencies drop further over the weekend. The global crypto market cap is down to $1.03 trillion, a 7.5% drop in just 24 hours, according to CoinMarketCap.
The world's most reliable digital asset, bitcoin dropped below $26,000 by 7.94% within 24 hours as at the time of writing this line. While Ethereum's price is worse, down 8.6% in 24 hours and 28% in the past week.
Not only Bitcoin and Ethereum are facing this bearish market, but BNB is also down 23% in the past week of trading with a current price as low as $236, Cardano (ADA) down 24%, XRP down 18%, Solana (SOL) down 31%, Dogecoin (DOGE) 28%, Polkadot (DOT) 28%, Polygon (MATIC) 25%, and Avalanche (AVAX) 35%.
The immediate trigger for the crypto crash appears to be a massive sell-off by investors amid heightened inflation fears. Investors are also continuing to stay away from riskier assets, which is reflected in the stock markets as well. The market is expected to remain choppy in the coming weeks and countries around the globe continue to report high inflation numbers.
Comments
Post a Comment