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Crypto Markets Lost $80 Billion in a Day as Bitcoin Dumps Below $40K (Market Watch)

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Bitcoin dumped to a monthly low beneath $39,000, and the crypto market cap declined by about $80 billion in a day.

After a few days of consolidating above the $40,000 mark, bitcoin slipped below that level to a new monthly low. The altcoins are also deep in the red today, with ETH dumping beneath $3,000 and even more substantial price losses from Ripple, Solana, Cardano, Terra, and Polkadot.The past few days were rather calm in the altcoin market, with little-to-no substantial price movements. Today, though, the situation is mainly different.

Binance Coin struggles at around $400 after a 3.5% daily decrease. Just until yesterday, BNB was close to $420. Ultimately, the crypto market cap has seen $80 billion evaporate, and the metric is down to $1.8 trillion.Following last week’s enhanced volatility, in which bitcoin fell from $45,000 to around $40,000, the asset had calmed around the latter. Asover the weekend, BTC stood just above $40,000 and even took a swing at $41,000 yesterday, but to no avail.

 

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