Several leading assets suffered double-digit losses as Bitcoin and Ethereum fell.
Bitcoin and Ethereum Correct
The cryptocurrency market’s recent rally appears to have halted.
Bitcoin and Ethereum trended down early Friday in a broader selloff that’s hit several of the market’s top cryptocurrencies. Per CoinGecko data, Bitcoin is down 7.3% in the past 24 hours, dipping from around $23,500 to $21,750 at press time. Ethereum has lost 6.2%, trading at $1,730. The leading cryptocurrencies have rallied over the past few weeks, helped by renewed confidence in the market and widespread anticipation for Ethereum’s upcoming “Merge” to Proof-of-Stake. However, both assets have slumped over the past week as momentum wanes.
Many other major crypto assets were also hit in the downturn. When Bitcoin and Ethereum bleed, other cryptocurrencies with lower market capitalizations tend to drop in market value at a faster rate as panicked market participants rush to exit their positions. Dogecoin,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...