Market Watch: Cryptocurrencies See Double-Digit Drops After Wall Street’s Friday Bloodbath

With numerous losses of almost all assets in double-digits, the bears have continued to control the cryptocurrency market. This just hours after the US stock markets lost its value.

Bitcoin Drops $8K in 2 Days

It is safe to say that the primary cryptocurrency has had a rough time. They weren’t that far away, as they jumped to $43,500 Thursday after a $1,500 price increase.

The situation was radically changed hours later. Yesterday’s report stated that BTC began to drop in value quickly and fell to a 6-month low of $38,250. In just one day, more than $700,000,000 worth of liquidations were caused by this increased volatility.

The bulls suffered another blow as bitcoin tried to recover and reached $39,000. BTC dropped by $4,000 and fell to $35,000.

The asset’s market capitalization has fallen below $700 billion, as it is currently only a few hundred dollars above this level.

BTCUSD. Source: TradingView

The recent correction in stock markets coincides with Bitcoin’s price slide. In the last few days, the three largest US stock market indexes have all been in the red. S&P 500, Dow Jones Industrial Average and Nasdaq Composite both fell by about 5% and 2% respectively last week.

ltcoins Double-Digit Dumps

Altcoins have been in worse shape over the last two days. Ethereum traded at $3,100, but is currently trading below $2,500. This is after a further 15% decline since yesterday.

All alt charts show double-digit drops. These include Binance Coin (20%) and Cardano (16%), Ripple (14%), Solana (14%), Terra (30%), Polkadot (23%), Dogecoin (44%), Avalanche (-22%) and MATIC (20%), among many other alt charts.

There are more losses from Theta (30%), PancakeSwap (28%), Gala (-26%), Harmony (20%), Loopring (-25%) and Theta Fuel (-25%).

The total market capitalization for all crypto assets has fallen to just above $1.6 trillion. This means that the metric has fallen by $200 billion per day and $400 billion over two 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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