The cryptocurrency market is one of the leading ways to invest money or transfer funds into the form of digital assets. Recently, we have seen during the Sanctions on Russia there were huge funds that came into the crypto market. Also, Ukraine also depositing funds and receiving funds through the crypto market. Here are some major things that happened and became the reason behind the massive down in the crypto market nearly $100 billion.
Recently, after the massive investment in the crypto market, the leading cryptocurrency Bitcoin has reached a price above $44000 which was a turning point for the market. But suddenly there was a sudden fall in the price and the massive sale became the reason for its massive fall overnight. As per the details, the market shed nearly $100 billion.
The current report says it is around a 4% fall from the last high. Currently, bitcoin is available at $41,100 and likely the market may slash down more. If you are an investor or trader in the crypto market then you know very well what is happen when the market falls down. These losses come after both assets clawed back from even steeper losses at the end of February. Bitcoin plummeted to just over $34,000 and Ethereum fell to $2,300 on February 24.
Also, there are many cryptocurrencies that fall down and were the bigger loser in the past few hours. Solana has fallen down more than 6% and it was shocking for all the investors who placed orders at a high value. Most probably, we will see some more volatility in the upcoming days.