Cryptocurrency

Since reaching a peak of $4.3 trillion in early October, the cryptocurrency market has lost about $2 trillion, with more than $1 trillion erased in the past month alone. The market capitalization of the leading cryptocurrency now stands at $2.2 trillion. Ether fell to a 10-month low of $1,751 before recovering to $1,927. Solana saw a sharp decline, dropping 11.1% to $80. Bitcoin Cash fell 10.6% to $465, while BNB decreased 8.6% to $630.

Cryptocurrency

Bitcoin rose from a 16-month low during Asian trading on Friday but is heading toward a deep weekly decline as broad risk aversion amid uncertainty over U.S. monetary policy weighs on cryptocurrency prices.

The U.S. government’s strategic Bitcoin reserve, created last year, has lost approximately $5 billion as a result of the sharp downturn in the cryptocurrency market.

Over the past week, the cryptocurrency market has experienced a sharp and synchronized decline in prices. Bitcoin ($BTC) fell to $63,982, marking one of its lowest levels in a long time. Bitcoin’s market capitalization dropped to $1.277 trillion, with a weekly decline of 23.95%.

Cryptocurrency

The cryptocurrency market faced another difficult day as the total market capitalization fell to $2.57 trillion. Bitcoin briefly dropped to around $75,900, losing 13% over the week, while Ethereum fluctuates near $2,226 after losing more than 22% in seven days.

Cryptocurrency exchange OKX released data on the stability of its trading infrastructure during the sharp market drop on October 11. According to a company representative, the median order execution time during peak volatility was 3 milliseconds, with the system operating without interruptions.

Cryptocurrency

Most crypto assets plunged sharply in price, with the market losing over 9% of its total capitalization in 24 hours. Alongside the broad decline, traders faced massive futures liquidations totaling $19 billion in a single day — a historic record, according to Coinglass.