Bitcoin, Ether Plummet To 6-Month Lows As Crypto Crash Wipes Hundreds Of Billions Off Market
The post Bitcoin, Ether Plummet To 6-Month Lows As Crypto Crash Wipes Hundreds Of Billions Off Market appeared on BitcoinEthereumNews.com. Topline The prices of bitcoin and ether fell to six-month lows Monday morning, continuing a sell-off of major cryptocurrencies...

Topline
The prices of bitcoin and ether fell to six-month lows Monday morning, continuing a sell-off of major cryptocurrencies that has dashed more than $1 trillion in value from the market since November.
Bitcoin’s value was down on Monday.
Getty ImagesKey Facts
The price of bitcoin, which makes up nearly 40% of the crypto market and is the most valuable cryptocurrency by market capitalization, fell to around $33,500 Monday morning, down more than 6% from 24 hours before.
Ether, the second most valuable cryptocurrency and around 16% of the overall market, fell more than 11% to around $2,200.
Both cryptocurrencies are at their lowest points since July last year and have shed around half their value since reaching record-breaking highs in November.
Other major tokens—including XRP, cardano, solana and Binance’s BNB—have experienced similarly steep drops over the last 24 hours, falling between roughly 8% and 12%.
The losses continue a days-long rout for major tokens like bitcoin (down 23% over the last week), ether (35%), Binance’s BNB (32%), cardano (31%) and solana (45%).
Key Background
The Federal Reserve triggered a crypto sell-off when it indicated it may combat inflation by moving faster to remove pandemic-era stimulus and raising interest rates. The market has been in broad decline since reaching record highs of more than $3 trillion in November and more than $1 trillion has been wiped off it in the weeks since. It is now worth some $1.59 trillion, according to CoinGecko.
Further Reading
‘Looking Ugly’: Crypto Market Crash Intensifies After $300 Billion Sell-Off—How Low Can Bitcoin Prices Go? (Forbes)
Major Cryptocurrencies—Including Bitcoin, Ethereum—Plummet After Fed Minutes Signal Looming Interest Rate Hikes (Forbes)
Source: https://www.forbes.com/sites/roberthart/2022/01/24/bitcoin-ether-plummet-to-6-month-lows-as-crypto-crash-wipes-hundreds-of-billions-off-market/
Post navigation
Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.
If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us