👉🫣510 Million in Losses in the Crypto Market😱🔥
The cryptocurrency market just witnessed its most significant three-day sell-off in almost a year, with a staggering loss of $510 billion since August 2.
The cryptocurrency market just witnessed its most significant three-day sell-off in almost a year, with a staggering loss of $510 billion since August 2. The sell-off has been driven by a confluence of negative factors, including weak jobs data, slowing growth in major tech stocks, and renewed recession fears.
This sharp decline reflects a broader vacillation in equity markets, where the S&P 500 fell as much as 4.4% over the same period. Major companies like Microsoft and Intel reported lower-than-expected second-quarter results, while market leader NVIDIA faced headwinds from expectations of imminent interest rate cuts in September.
The prices of Bitcoin$153,269,655,03 and Ethereum$69,183,356,217 have taken major hits amid this market turmoil. Among the top 10 cryptocurrencies by market cap, Solana$4,69,400,18593 has been hit the hardest, with its value down 30.6% since July 30.
The Crypto Fear and Greed Index, which measures market sentiment towards Bitcoin and other cryptocurrencies, has fallen back into the “fear” territory.