Crypto market crashes below $2 trillion; here’s why
In early July 2024, the crypto markets found themselves in a precarious position as numerous prominent cryptocurrencies – with Bitcoin (BTC) spearheading the trend – entered into a collapse both large and rapid. The first days of the month saw two major shocks. First, some $130 billion escaped from the asset class’ market capitalization within a single day, and then, just hours later, almost as much was wiped within 60 minutes. The downturn also saw the cryptocurrency market fall below a total capitalization of $2 trillion for the first time since late February. By press time on July 5, the total valuation of cryptocurrencies stood at $1.96 trillion . Picks for you Analyst sets Bitcoin's July best-case scenario amid BTC sell-off acceleration 57 mins ago ...