On Thursday, another crypto market dump caused sharp drops in digital asset prices. Yesterday’s plunge in BTC prices below $39,000 was the first in nearly four months. The market was dominated by bearish traders in the last 24hrs, as the total crypto market cap fell to approximately $150 billion.
Ethereum was the most affected of the three top digital currencies. ETH lost about 10% in the last 24 hour and fell to $2,820. This is the lowest level since September 20,21.
Since the beginning of the year, the negative sentiment in the market has led to a dramatic drop in digital asset valuations. The overall market cap fell by nearly 20% in the first three weeks 2022. The market value for digital currencies increased by almost 25% in the same time last year.
The latest crypto plunge was led by BTC in 2022. In the first three weeks 2022, the crypto asset, which represents nearly 40% of the digital currency market cap, fell from $49,000 to $38,500. Altcoins such as ETH, BNB and ADA also saw significant declines during this period.
