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Bitcoin and cryptocurrency prices, including major coins ethereum, Binance’s BNB, solana, cardano and XRP, have dropped sharply, wiping almost $200 billion from the combined crypto market in just 24 hours.
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The bitcoin price has crashed 10% over the last 24 hours, dropping under $40,000 to around $38,000, a level not seen since the summer of 2021. Meanwhile, the price of ethereum, BNB, solana, cardano and XRP have all dropped between 7% and 11%.
The sudden sell-off comes as stock markets around the world sink, with the tech-heavy Nasdaq 100 NDAQ -0.6% falling into correction territory as investors face up to the reality of a more hawkish Federal Reserve and higher interest rates.
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bitcoin, bitcoin price, crypto price, crypto crash, ethereum, ethereum price, solana, cardano, XRP, image
The bitcoin price has crashed to under $39,000, dragging down the price of major cryptocurrencies … [+] SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES
Ethereum, the second-largest cryptocurrency after bitcoin, has dropped under the closely-watched $3,000 per ether level, as ethereum’s biggest rivals BNB, solana and cardano have all moved sharply lower after making huge gains over the last year.
The crypto price crash has now seen around $1.2 trillion wiped from the combined crypto market after it hit an all-time high of $3 trillion in November. The bitcoin price is down almost 50% from its peak of nearly $70,000 per bitcoin.
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