Crypto Prices Continued To Fall Today As Bitcoin, Ether, And Shiba Inu Fall

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As cryptocurrencies are going through a dark period, Bitcoin price continued its downward trend today by trading below the $39,000 level. The largest digital asset by market value is on a downward streak, losing around 40% since a high reached in November.

Continuing the downward trend, the price of Bitcoin fell 9.4% today, trading at $36,436.88. For Bitcoin, there has been only one constant lately: decline after decline, slipping more than 14% since the start of this year (year-to-date or year-to-date) and more than % in value since its peak in November last year.y

Other digital currencies, ether and meme coins, are experiencing similar drawdowns. Ethereum lost 12.1% to $2,593.50. Binance Coin was trading at $386.64, down 9.9%, as Cardano fell 8.6% to $1.14.

Solana fell 12.4% to $111.59, while Dogecoin fell 7% to $0.143498. Shiba Inu saw a massive drop of 15.6% to $0.00002218.

Meanwhile, Bitcoin’s decline since that November high has wiped out over $600 billion in market value, and over $1 trillion has been lost in the overall crypto market. While there were much larger percentage pullbacks for Bitcoin and the overall market, this is the second largest dollar drop ever for both, according to Bespoke Investment Group.

This gives an idea of ​​the scale of the value destruction that the percentage declines can mask,” Bespoke analysts wrote in a note. obtained, the volatility is worth considering both in raw dollar terms and in percentage terms.”

With the Federal Reserve’s intentions to rock both cryptocurrencies and stocks, a dominant theme has emerged in the digital asset space: cryptos have twisted and turned in almost exactly the same way as stocks. .

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