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Cryptocurrencies hit by huge selloff. Here’s why
Bitcoin dropped 13% from its Sunday closing price to $51,560, heading for its biggest one-day fall since November 2022 and its lowest level since February. Ether fell 17% to $2,277, its lowest since mid-January. Ethereum price on Monday was $2,332, down 19.71% from the previous day.
Bitcoin plunges to multi-month lows, wiping out over $220 billion in value amid recession fears
Bitcoin (BTC) plunged to multi-month lows on Monday, falling over 14% in 24 hours amid US recession fears and disappointing economic data. This drop reduced Bitcoin’s market value by around $220 billion and led to a 15.9% decline in the global crypto market cap, now at $1.81 trillion. #BTC ETH #CORE