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Cryptocurrency Market Loses $80 Billion as Bitcoin Falls to 40-Day Low

Cryptocurrency Market Loses $80 Billion as Bitcoin Falls to 40-Day Low

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Answer Cryptocurrency Market Loses $80 Billion as Bitcoin Falls to 40-Day Low

After failing to recover the $40K level, Bitcoin took another hit and fell back to its lowest price point in more than a month.

Altcoins are also in disrepair, especially with Ethereum slipping to $2800, Solana dropping below $100, and many other examples.

Bitcoin drops to $38,000:

The past several days have not gone well for cryptocurrencies.

It all started on April 21st when Bitcoin tried to get his hands on the $43,000 level but failed in his attempt.

The subsequent refusal pushed the coin price down $40,000.

This was not all, especially with the continued negative developments in prices.

Read:After the latest DDoS attack… BitMEX compensates users for their losses

As we noted over the weekend, bitcoin fell below $40,000 for the second time in a week.

Bitcoin tried to recover above this level but was rejected again.

As such, the bitcoin price dropped to $39,000 before dropping to just over $38,000 a few hours ago.

This became the lowest price for Bitcoin since March 15th.

So far, bitcoin has recovered a few hundred dollars, but it’s still down more than 2% lower in the last 24 hours.

Altcoins in dark red:

Altcoins went through a similar correction late last week before calming down over the weekend.

Today, most altcoins are in a very dire situation, with red dominating almost all charts.

Ethereum lost the coveted $3000 level a few days ago and hasn’t been able to get it back since.

A decline of 2.3% on a daily basis has pushed the largest altcoin to around $2,800 so far.

Binance Coin lost a similar percentage in one day and fell to $392.

Solana price dipped off the $100 support level after a 4.4% drop.

As a result, the cryptocurrency market cap has fallen by about $80 billion today and is still struggling under $1.8 trillion.

Read:“COVER” decentralized finance project hacked and currency free-fall

Read also:

After El Salvador…Central African Republic Prepares to Accept Bitcoin as Legal Currency

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