Crypto market wipes out $500 bn in a week; Bitcoin down 20%, slips 7% in a day
The cryptocurrency market experienced a significant downturn, with nearly $500 billion wiped off its total value in a week. Bitcoin and Ethereum saw substantial drops, reflecting a broader risk-off sentiment in global markets. Analysts suggest this volatility is driven by macro factors and elevated leverage, with near-term price action expected to be range-bound.
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategie... [807 chars]
Published by: The Economic Times
Read full article here: https://economictimes.indiatimes.com/markets/cryptocurrency/crypto-market-wipes-out-500-billion-in-a-week-as-bitcoin-drops-7-in-a-day/articleshow/127924957.cms
