Key Insights

• More than $500 billion were wiped out from the cryptocurrency market over 25 days as the sell-off became even more intense on major cryptocurrencies.
• More than $400 billion worth of market value was wiped out by Bitcoin as it dropped towards $61,000.
• Meme coins and growth coins registered even higher sell-offs as risk-on sentiment waned

Trigger for the Massive Crypto Market Contraction

The Crypto Market Reset is becoming very strong after a loss of over $500 billion in the digital assets space within the span of just 25 days. Almost all segments of the crypto industry suffered massive declines during this period, where even Bitcoin, Ethereum, major altcoins, and meme tokens saw significant losses.

The market sentiment changed…