Crypto Markets Lose $200 Billion as Bitcoin’s Price Tumbled to 6-Week Low: Market Watch
Bitcoin’s jump from Friday was short-lived as the asset was not only stopped at $117,000 during the weekend, but it took another turn for the worse on Sunday evening and Monday morning.
Most altcoins have followed suit by turning red, with ETH dropping by over 3% daily, while XRP has slipped below the crucial support at $3.
BTC Falls Hard
Last week was a tough one for the primary cryptocurrency as it was gradually declining for the most part. The culmination took place on Friday, ahead of Jerome Powell’s highly anticipated speech, when it slipped to a multi-week low of just under $112,000.
As the Fed Chair hinted at potential future rate reductions, BTC reacted with an immediate surge, driving it to over $117,000…