Bitcoin Lost $7000 in 24-Hour as Global Crypto Market Plummets
Bitcoin’s price declined by about $7000 as investors exited positions in orange coin in the global cryptocurrencies market on Wednesday. The world’s largest crypto asset had climbed near $102,000 before retail investors booked profit on the rally. Also, the Ethereum price retreated, and a similar pattern was seen in other top digital assets.
According to data from the CoinMarketCap.com, the global crypto market cap plunged to $3.35 trillion, translating to a 6.28% decrease over the last day. The total crypto market volume over the last 24 hours settled at $183.72 billion, which makes a 46.94% increase.
Also, the total volume in DeFi is currently $11.63 billion, 6.33% of the total crypto market 24-hour volume. The volume of all stable coins reached $171.63 billion, which is 93.42% of the total crypto market 24-hour volume.
Major digital assets tumbled Tuesday, with Bitcoin (BTC-USD) dropping below $97,000. The CoinDesk Market Index, which now tracks 124 digital assets, slumped 6.6% in the past 24 hours. US stock indexes fell with the Nasdaq 100 shedding 2%, the S&P 500 dropping 1.2%, and the Dow Jones Industrial Average falling 0.6%.
Bitcoin, the most popular cryptocurrency, slid 5.4% to $96,517 during late trading hours on Tuesday and plunged further on Wednesday as sell pressure persisted. Ethereum (ETH-USD), the second-largest digital asset by market value, plunged 8.1% to $3,381. XRP (XRP-USD) shed 6.3%, Solana (SOL-USD) lost 7%, and BNB (BNB-USD) dropped 6.2%.
Dogecoin (DOGE-USD) fell 9.7% and Cardano (ADA-USD) dropped 9.4%. The US 10-year Treasury yield closed at 4.683%, up from Monday’s close of 4.616%, while the five-year yield rose to 4.465% from 4.421%.
The total market value of the cryptocurrency industry fell 6.1% in the past 24 hours to $3.38 trillion, while the total 24-hour trading volume increased 19% to $154.77 billion. FBN Holdings Records Huge Off-Market Shares Transactions #Bitcoin Lost $7000 in 24-Hour as Global Crypto Market Plummets
