Global crypto market sheds $1 trillion as Bitcoin retreats from record highs
Shafaq News
Bitcoin’s rally above $126,000 in early October has
reversed sharply, with more than $1 trillion in market value wiped from digital
assets over the past six weeks, according to data reviewed by Shafaq News.
The total capitalization of cryptocurrencies has
fallen from around $4.2 trillion to below $3 trillion, erasing almost a quarter
of the market. Bitcoin alone has dropped more than 30% from its peak of
$126,000 on October 6, slipping into what analysts describe as a “severe
correction” rather than a structural collapse.
The October surge coincided with a stronger appetite
for high-risk assets, supported by a US regulatory environment friendlier to
crypto and renewed inflows into…
