Bitcoin fell today to a 10-month low of $74,546.46, and Ether fell to $2,166.79, its lowest since June 22.
This decline affected most cryptocurrencies, with the market value decreasing by 3.68% to approximately $2.57 trillion, of which Bitcoin’s market value was approximately $1.5 trillion.
Bitcoin has lost more than 14% of its value in one week as investor appetite for high-risk assets continues to wane.
According to ‘coinmarketcap’ data, Ripple (XRP) fell by about 6.8%, Solana by 5.8% and BNP by 4.96%.
worst loss
The decline came as a result of the collapse in gold and silver prices and President Donald Trump’s announcement of his nominee to replace Jerome Powell as head of the US Federal Reserve.
The cryptocurrency’s decline came after President Trump selected Kevin Warsh to lead the Federal Reserve, easing concerns about the central bank’s independence and boosting the U.S. dollar.
The cryptocurrency market suffered its worst single-day loss last Saturday, with more than $1 billion in positions liquidated.
Bitcoin fell today to a 10-month low of $74,546.46, while Ethereum fell to $2,166.79, its lowest since June 22.
This decline has affected most cryptocurrencies, with the market capitalization decreasing by 3.68% to approximately $2.57 trillion, of which Bitcoin’s market capitalization is approximately $1.5 trillion.
Bitcoin has lost more than 14% of its value in one week as investor appetite for high-risk assets continues to wane.
The Ripple (XRP) token fell by about 6.8%, Solana by 5.8% and Binance Coin (BNB) by 4.96%, according to data from CoinMarketCap.
worst loss
The decline came amid a collapse in gold and silver prices and President Donald Trump’s announcement of his nominee to replace Jerome Powell as president of the Federal Reserve.
The drop in cryptocurrencies came after President Trump selected Kevin Warsh to lead the Federal Reserve, easing concerns about central bank independence and boosting the US dollar.
Last Saturday, the cryptocurrency market experienced its worst single-day loss, with liquidated positions totaling over $1 billion.
