Total market capitalization has declined by 11% in a fall from $1.74 trillion to a low of $1.55 trillion during Tuesday morning’s Asian trading session.
The massive selloff has resulted in almost $200 billion being wiped out of digital assets and back into fiat. It is the lowest markets have fallen to since May 30, and more pain may be on the way.
The lowest total market cap has been during the current correction was on May 24 when it dropped to $1.46 trillion. Markets are still 50% higher than they were at the beginning of 2021 though.
The Elon Effect?
Trader and technical analyst ‘Rekt Capital’ has blamed most of the market movements this year on Elon Musk and Tesla. There have been no further incendiary tweets from the tech billionaire over the past 24 hours to catalyze this current dump, however.
BTC/USD 1D – Twitter, Rekt Capital
The latest round of FUD appears to have come from regulatory fears in the U.S. Recent ransomware attacks have put cryptocurrencies in the spotlig
Źródło: https://cryptopotato.com/crypto-markets-dump-200-billion-in-bear-driven-bloodbath/
