Bitcoin, Ether Plummet To 6-Month Lows As Crypto Crash Wipes Hundreds Of Billions Off Market

Bitcoin, Ether Plummet To 6-Month Lows As Crypto Crash Wipes Hundreds Of Billions Off Market

Share to Linkedin The prices of bitcoin and ether fell to six-month lows Monday morning, continuing a sell-off of major cryptocurrencies that has dashed more than $1 trillion in value from the market since November. Bitcoin's value was down on Monday. The price of bitcoin, which makes up nearly 40% of the crypto market and is the most valuable cryptocurrency by market capitalization, fell to around $33, 500 Monday morning, down more than 6% from 24 hours before. Ether, the second most valuable cryptocurrency and around 16% of the overall market, fell more than 11% to around $2, 200. Both cryptocurrencies are at their lowest points since July last year and have shed around half their value since reaching record-breaking highs in November. Other major tokens—including XRP, cardano, solana and Binance's BNB—have experienced similarly steep drops over the last 24 hours, falling between roughly 8% and 12%. The losses continue a days-long rout for major tokens like bitcoin (down 23% over the last week), ether (35%), Binance's BNB (32%), cardano (31%) and solana (45%). The Federal Reserve triggered a crypto sell-off when it indicated it may combat inflation by moving faster to remove pandemic-era stimulus and raising interest rates. The