Bitcoin Plunges Below $84K as Crypto Sell-Off Wipes Out Weekly Gains
Hopes for the crypto recovery to continue vanished on Friday, as a market-wide rout erased virtually all gains from earlier this week.
Bitcoin (BTC), hovering just below $88,000 a day ago, tumbled to $83,800 recently and is down 3.8% over the past 24 hours. The broad-market benchmark CoinDesk 20 Index declined 5.7%, with native cryptos Avalanche (AVAX), Polygon (POL), Near (NEAR), and Uniswap (UNI) all nursing almost 10% losses during the same period. Today’s sell-off wiped out $115 billion of the total market value of cryptocurrencies, TradingView data shows.
Ethereum’s ether (ETH) declined over 6% to extend its downtrend against BTC, falling to its weakest relative price to the largest cryptocurrency since May 2020. Underscoring the…
