Crypto Carnage: How Much Value Did the Markets Lose 24 Hours?

The crypto markets experienced a bloodbath on Wednesday as leading coins dramatically headed south shedding all their previously generated gains. Bitcoin reached $17,700 in the day’s trade touching its November 2020 lows.
Therefore, BTC has erased all profits that it delivered in 2021 bringing investors to square one. BTC is down 12% in the day’s trade while Ethereum slipped 20%. The majority of BTC holders are underwater and the king crypto has more chances of slipping south than going north.
I
By Shubhk

shubhk's Recent Blog Posts

Apple Hiring to Build its Metaverse?
According to relevant patent filings and recent job postings, Apple (AAPL) appears to be working on the creation of a “3D mixed-reality world” with metaverse-like characteristics. Over 30 augmented…
2 years ago
Bitcoin re-visits 2017 highs: Will it trigger recovery?
In January 2017, Bitcoin breached the $1000 benchmark, creating a new record high at that time. By mid-December that year, the asset already inclined to a new peak at around $19.7k. Fast forward to…
2 years ago
Is the Bitcoin mining industry on the verge of collapsing?
The Bitcoin market has been drowning the red sea along with its counterparts. Amidst constantly crashing projects, the mining industry hasn’t been very profitable. While several filed for bankruptcy …
2 years ago
FTX Hack Sees Abnormal Outflows of $600 Million, Many Holders Report $0 Balance
FTX Telegram admins have confirmed that the exchange was hacked late Friday night. The Telegram admins urged users to not visit the FTX website as it “might download Trojans” which could affect their…
2 years ago
Bitcoin: 50% BTC Supply Being Held at Loss, RSI at New Lows
Bitcoin (BTC) holders, both long-term and short-term, are facing the brunt of the recent market crash. According to the data on Glassnode, 35.4% of BTC supply is being held at a loss by long-term…
2 years ago