Cryptocurrency plunges On July 5, the cryptocurrency market suffered a massive sell-off, with Bitcoin falling for the fourth consecutive trading day, falling to its lowest level since February. This is in stark contrast to the recent record highs in global stock markets. Among them, Bitcoin once fell below $54,000 per coin, down 7% on the day; Ethereum is now down more than 6%; and smaller currencies such as Ripple and Dogecoin have suffered more serious losses, some of which have fallen by more than 10%.