Why Is Crypto Down Today? Market Loses $186B In 24 Hours
The entire cryptocurrency market lost $186 billion today from yesterday’s high. Meanwhile, the total market capitalization of all cryptocurrencies combined went down from $3.29 trillion to the current $3.21 trillion over the last 24 hours, signaling concerns that the new bull run could be dead on arrival.
Bitcoin is trading at $103,741—down by almost 2% over the last 24 hours. However, these losses are insignificant in comparison to the altcoin market. The market value of cryptocurrencies excluding bitcoin erased $80.4 billion over the last day, leading several well-known crypto assets to lose substantial amounts of value.
Meanwhile, Bitcoin Dominance—a.k.a. the metric that measures how much of the market is…
