Hundreds of billions of dollars have been wiped from the Crypto Market due to Bitcoin price CRASH
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Ethereum and other popular cryptocurrencies have also seen their value plummet.
During a market-wide slump, the price of bitcoin has dropped below $60,000.
Several other popular cryptocurrencies, including Ethereum (ether), Binance Coin, and Solana (SOL), had their prices drop by 5–10% on Tuesday morning.
Bitcoin’s price has plummeted less than a week after reaching a fresh all-time high of almost $69,000.
The whole crypto market dropped by almost $200 billion overnight to about $2.6 trillion, after briefly approaching $3 trillion during last week’s record-breaking rise.
The most valuable digital token fell 8.2 percent to $58,661. Ether, which was placed second, dropped by more than 10%. According to tracker CoinGecko, the global crypto market worth has decreased 10% in the last 24 hours to $2.7 trillion.
Technical signs had hinted that the recent strong run in the famously volatile market was about to come to an end.
Some observers blamed the drop on new tax reporting requirements for digital currencies included in President Joe Biden’s $550…
