The cryptocurrency market experienced significant volatility last week, with a drop of over $300 billion in total capitalization due to Bitcoin’s price fluctuations and other altcoins following suit. The market initially saw an uptrend due to expectations of a Federal Reserve interest rate cut, but when the Fed announced a potential slowdown in future rate cuts, there was a widespread sell-off.
This led to Bitcoin dropping below $100,000 and causing over $1.3 billion worth of liquidated positions across the cryptocurrency market on Friday alone. Many altcoins also saw significant losses, with Ethereum dropping 15%, XRP by 10%, BNB by 8%, Solana by 15%, and Dogecoin by 25%. However, it’s essential to maintain perspective and consider the broader context when analyzing market fluctuations.
Source
