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>>Bitcoin's price fell to a three-month low, triggering a massive $900 billion loss across the cryptocurrency market.

Bitcoin's price fell to a three-month low, triggering a massive $900 billion loss across the cryptocurrency market.

crypthub

1 day ago

Bitcoin Price Drop

Bitcoin experienced a significant price crash Friday evening and Saturday morning, reaching its lowest point since early July. The sudden drop, triggered by warnings from the US President regarding tariffs on Chinese products, resulted in massive liquidations exceeding $19 billion. BTC’s price plummeted from around $122,000 to below $101,000 on some exchanges. It has since recovered somewhat, currently trading near $112,000.

Altcoin Losses

The Bitcoin crash heavily impacted altcoins, with some experiencing even more dramatic losses. Cardano (ADA) suffered a particularly severe decline, dropping over 65% to a yearly low. Major altcoins like ETH, XRP, SOL, and DOGE also saw double-digit percentage drops. ZEC was a notable exception, experiencing a price surge.

Market Cap Decline

The overall cryptocurrency market cap plunged significantly during the crash, losing over $900 billion. This brought the total market cap down to a low of $3.3 trillion. While it has partially recovered, the market remains down by $400 billion compared to the previous day.