The latest crypto crashes have wiped out more than 7% of the market cap, declining from levels above $2.50 trillion to $2.32 trillion as of press time.
Bitcoin led this capital outflow, losing more than $10K of the value of a single token. Its market cap dropped from $1.50 trillion to $1.34 trillion while the price moved from above $77K to $67K.
The move came as major institutions like Strategy announced the sale of 32 BTC for the first time since 2022.
Crypto market crashes as Bitcoin leads the pack
On the charts, Bitcoin [BTC] failed to reclaim a CME Gap between $78K and $79K and dropped to the $67K price range. That translates to a wipeout of more than $250 billion in less than a week.
In general, the…
