TX hearing injected fear into the market, investors reacted with panic selling. This led to a phenomenon not observed in almost six months now.The total value of the crypto market slipped below the $1 trillion mark as on the last day, nearly $29 billion was wiped out. The 2.84% decline in the market cap brought the combined value of all cryptocurrencies to a little over $987 billion.The present value of the crypto market was this low back in March this year and marks a six-month low.
Beyond traders and investors, many large trading firms also jumped on the bandwagon and offloaded millions of dollars worth of crypto assets. According to firms Arkham Intelligence and Lookonchain, the likes of Jump Trading, Abraxas Capital Management and Wintermute Trading have deposited over $30 million worth of Bitcoin, Ethereum and Arbitrum on various exchanges.-14K ETH from Abraxas Capital Management to Bitfinex
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