Crypto Market Cap Sinks to $2.9trn as Dips Keep Dipping
The global crypto market plunged to $2.91 trillion in total value as dips keep dipping over sustained deteriorating investors’ sentiment, according to trading data.
All the top 10 crypto names are bleeding, reflecting fading bargain hunting in digital assets while the market awaits a possible Fed rate cut as a catalyst to trigger a fresh rally.
According to data from CoinMarketCap.com, the sell-offs heated up on Friday, with top crypto assets, including Bitcoin, Ethereum, Ripple, Solana, Cardano, and Dogecoin, bleeding value.
Settling at $2.91 trillion after losing an additional 2.1% over 24 hours, the crypto market just suffered its worst sell-off since 2022, wiping out nearly 2 billion in liquidations.
BTCUSD is currently trading around $83,000 after a sharp intraday drop that briefly pushed the price down toward $81,000. The world’s largest crypto has lost more than 4.1% of its opening price on Friday.
Investors who liquidated long positions have continued to send negative signals into the market. Ethereum is also down at the press time, having lost about 4% due to sell-offs.
Dogecoin and Cardano are the worst hit, losing more than 6% in the last 24 hours as a result of persistent profit-taking activities in the crypto markets. #Crypto Market Cap Sinks to $2.9trn as Dips Keep Dipping#
