$200 Billion Gone From Crypto Markets as Bitcoin Dumped to 6-Month Low (Market Watch)

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The bears have complete control over the cryptocurrency market with $200 billion gone in a day as BTC dumped below $40K.

Bitcoin dropped by more than $5,000 in hours and dumped to its lowest price point in roughly six months. The altcoins are also deep in the red, with Ethereum sliding below $4,000 and the entire market cap losing about $200 billion in a day.After the past several days of gradually decreasing in value and calming around $42,000, the primary cryptocurrency finally initiated an impressive leg up. It shot up by $1,500 in hours and touched a multi-day high at $43,500.

As the bulls were preparing for another increase, the bears came to play and changed the landscape vigorously. Bitcoin started to lose value massively and dumped to $40,000. However, the worst wasIn the following hours, BTC lost that coveted resistance line and kept plunging. This time, it plummeted to $38,250, which became the lowest price level since August 5th, 2021.rising above $700 million in a day.This is all you need not to miss any price action in the raging crypto markets.

Ethereum touched $3,200 yesterday but an 8% slump has driven the second-largest cryptocurrency to under $2,900. Binance Coin , Cardano , Solana , Dogecoin , Avalanche , Shiba Inu , MATIC , and Ripple are all well in the red on a daily scale.Even more price losses are evident from SCRT , LRC , POKT , QNT , RUNE , Gala , AAVE , ZEC , and many others.

Ultimately, the cryptocurrency market capitalization went down by $200 billion from yesterday’s peak at $2.050 trillion to below $1.850 trillion.

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