Daily crypto: Markets are falling – bitcoin drops more than $600

The crypto markets have fallen sharply over the past 24 hours. Currently, about 95 of the 100 biggest cryptocurrencies show red numbers.

The market cap for all cryptocurrencies has lost $22 billion over the last 24 hours – from $140 billion yesterday to $118 billion today.

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Bitcoin has lost more than $600

Looking at the biggest cryptocurrencies, all of them show two-digit drops in prices. Bitcoin cash (-20,92%) and xrp (-17,32%) have lost the most, but also bitcoin (-14,92%), ethereum (-15,59%) and eos (-13,66%) have lost in value over the last day.

The world’s biggest cryptocurrency bitcoin is currently trading at about $3,693, a decline of over $600 from yesterday. Bitcoin dropped over $300 in less than an hour.

On the forum Reddit, several people speculate if the fall is due to the fact that one or more major players have sold large sums of bitcoin, which triggered several so-called “stop losses”, which is automatic sell orders, that made the price of bitcoin drop further.

A graph for the bitcoin price in the last 24 hours. Image source: Coinmarketcap

The cryptocurrencies on top 100 that performed the best during the last 24 hours were odem (+4,46%) and ai (+3,33%), and those who performed the worst were metaverse etp (-24,04%) and mithrill (-23,25%).

*All numbers in this article are from Coinmarketcap.com.

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