$300B Erased From Crypto Markets In 3 Days As BTC Drops Below $41K

$300B erased from the crypto markets in three days means that the market still hasn’t consolidated as Bitcoin dipped below $41,000 as we can see today in our crypto latest news.

The market is down below $2 trillion and bitcoin reached $40,500 with most of the other altcoins suffering just as bad. Bitcoin’s situation got worse once again as the asset dropped to a three-month low and most altcoins followed with the overall losses from the past three days reaching $300 billion.

It’s also safe to say that the main cryptocurrency has seen better days. They weren’t all that long ago as it traded near $47,000 and tried its hand at $48,000 on Wednesday. However, the bears took complete control in the next 72 hours and they even dumped BTC by $4000 before another drop occurred when the asset dropped below $42,000 on Friday. It seemed like the consolidation was evolving as BTC stood at $42,000 for a while but this didn’t last long as BTC dived once again. This time, it fell to $40,500 which is the lowest price since late September in 2021.

The cryptocurrency recovered some ground and now stands about $1000 higher but still the $300B erased from the crypto markets, led Bitcoin’s market cap below $800 billion. The rest of the coins suffered just as badly as bitcoin did. Ethereum was hovering near $3800 a few days ago but it is now just over $3100 after another 3% drop. Binance coin is down by 5.5% and has a hard time at $430. Solana dropped by 4%, Cardano dropped by 6%, Polkadot by 5.5%, Ripple dropped by 3.5% and Avalanche dropped by 5.5% as SHIB and Matic also entered the red.

Chainlink was yesterday’s best performer and the only larger-cap altcoin which endured the market correction without too big losses. On the contrary, more losses came from Fantom which dropped by 12%, Helium and Oasis network both by 11%, Zcash by 10%, Gala also by 10% alongside Ravencoin and Loopring by 10%. The cumulative market cap of all cryptocurrencies is down to $1.950 trillion which means that the metric lost about $300 billion since the correction from three days ago.

following the latest price movements, it’s maybe a good idea to check the real value of Bitcoin by using our optimized Bitcoin price calculator on the DC Forecasts website!