Bitcoin crashed 6.64% in the past week while ETH is down 10.35%.
Blue chip tokens ADA and SOL crashed 15% and 12%, respectively in the last seven days.
Meme coins also crashed with DOGE plummeting 11.13% in the past week.
The crypto market faced increased downward pressure as leading cryptocurrencies dropped with the start of a new month – October, a month commonly known as “Uptober” in the digital asset space. Many cryptocurrencies lost the gains they saw last month after tensions between Iran and Israel escalated.
According to CoinMarketCap data, the total valuation of the crypto market is $2.12 trillion, down almost 1% in the past 24 hours. The total volume in crypto trading is above $81 billion, while Bitcoin (BTC), the market leader, holds a 56.9% dominance. Ether (ETH) dominance is at 13.5%.
Read also: Bitcoin vs. Gold: BTC Loses Ground as Central Banks Drive Gold to Record Highs
In the past seven days, Bitcoin fell 6.64% while ETH crashed 10.35%, and at the time of publication, they are trading at $61,012 and $2,373, respectively. The Bitcoin market cap is $1.2 trillion while ETH is valued at $285 billion, and their respective trading volumes a…
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