Bitcoin drops 8% as $126 billion is wiped off the cryptocurrency market

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Bitcoin cratered on Thursday as a major stock sell-off in the U.S. spooked the cryptocurrency market.

Around $129 billion of value was wiped off the cryptocurrency market in a 24-hour period as of 4:03 a.m. ET, according to data from CoinMarketCap.on Thursday, marking its worst single-day drop since 2020.fell nearly 5%. Bitcoin has remained correlated to equity markets with the cryptocurrency falling or rising in tandem with stocks.

"Overall, global markets have been spooked by growth fears as we can see. The Dow had its worst drop since 2020, and all related risky-based assets followed suit including crypto," Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, told CNBC.

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Ken Griffin and friends, GMEricans is assembling KenGriffinLied CitadelScandal GameStop $GME

btc at a discount

😂😂😂😩😩😭😭

😆

I just bought more. I will keep buying until I am broke.

Can you pass the sugar please

your still on the air.... yeah not for long

luisesgo

Get in there, buying opportunity 👊🏻

We still HODL

9

lol

I told you so!

🤣🤣🤣

Yeah Bitcoin is surely doomed…

ok... HEX

shock and awe

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