An overview of the cryptocurrency market today Tuesday, February 23
In the last 24 hours, we have once again witnessed the emergence of a very unstable nature of the crypto market. Bitcoin has pioneered this trend with a significant drop of $ 11,000. Most of the alternative coins also went downhill, eventually losing more than $ 260 billion in cryptocurrency.
Bitcoin falls again to 50 thousand dollars
A popular saying in the cryptocurrency market is "this market is never stagnant or boring." Now, in the last 24 hours, the term has become more prominent, but this time with a negative aspect. Bitcoin had recently reached its highest price at $ 58,400, and although everything seemed quite bullish for this asset, the situation changed completely within a few hours.
BTC lost about $ 11,000 in 24-hour timeframes, reaching a daily low of $ 47,500. Shortly after the massive decline, the cows took control of the market, bringing the cryptocurrency to $ 55,000.
However, Bitcoin failed to sustain this improvement and once again fell below $ 50,000. At the time of writing, the market's top cryptocurrency is being reconsidered and is currently trading at $ 47,920.
Finally, the bitcoin market capitalization fell by more than $ 100 billion in one day, reaching below $ 1 trillion.
Sea of Blood in the Altcoins Market
As in the past, the price correction trend in the Altcoin market is more intense than in Bitcoin. Atrium dropped more than 15 percent in 24-hour timeframe to $ 1,600. Due to the fact that the price of this leading currency was more than $ 2040 in just a few days, following this fall, Ether (ETH) has lost more than $ 400 in a few days.
Bainance Quinn, which recently hit a new record at around $ 350, also fell to $ 235. Polkadot (-8%), Cardano (-5%), Ripple (-12%), Litecoin (-15%), Chainlink (-17%) are all red today.
The highest price drop today in Altoquins such as Dodo (-25%), Elrond (-24%), Siacoin (-23%), IOST (-23%), 1inch (-23%), Ontology (-22%) , Aave (-20%), Curve Dao Token (-20%), Waves (-20%), and BitTorrent (-20%).
As a result of recent price movements in the crypto market, the total value of the crypto market has fallen by more than $ 260 billion to $ 1.5 trillion.