Crypto Markets Lost $300B in 4 Days, Bitcoin Saw Lowest Daily Close Since July 2021 (Market Watch)

The Bitcoin price plunges have continued for the past 24 hours, as the asset continues to lose value. Many altcoins are in the same or worse situation, with huge price drops from Ripple and Solana as well as Cardano, Shiba Inu Shiba Inu and Polkadot. NEAR Protocol, however, is one of the few winners.

Bitcoin Dump at $33K

Just four days ago, the primary digital asset had risen to $40,000 after the FOMC meeting. It failed to overcome this level but it was close for several hours before it changed completely.

BTC dropped by $4,000 in a matter hours to reach a multi-week low of $36,000. Although it was a significant price drop, it wasn’t the end. Yesterday’s report showed that bitcoin fell below $35,000 to chart an entirely new local bottom. This is the lowest level since January.

The cryptocurrency dropped to $33,000, however, this was not the end. This was the lowest daily closing price for cryptocurrency since last summer.

Bitcoin is still struggling to reach that level. Its market capitalization is now at $635 billion.

BTCUSD. Source: TradingView
ltcoins Keep Losing Value

Like bitcoin, many alternative coins have also been falling in recent days. Many other coins have seen multi-month lows.

Ethereum reached $3,000 earlier in the month, but has lost more than $500 since. The second-largest cryptocurrency fell 4.5% in the last 24 hours to well below $2,500

Binance Coin is now trading at $340, down by 5% per day after being above $400 less than one week ago. Terra and Dogecoin both declined in similar proportions.

Ripple and Solana, Cardano and Polkadot have lost more value.

NEAR Protocol is one of the rare exceptions with a noticeable price rise of 9%. NEAR trades for more than $11.

However, the total market cap for all crypto assets has fallen to just above $1.5 trillion. The metric has lost approximately $300 billion in just four days.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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