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Bitcoin Shows 'Overwhelming' Institutionalization After ‘Significant Deleveraging’
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The crypto market continued lower on Monday after a weekend sell-off that was described as a “significant deleveraging event.” Despite the event now being behind us, however, some traders continued to worry about the potential for an extended market correction.
At 11:14 UTC, the total crypto market capitalization had fallen to USD 2.292trn, down almost 29% from a peak of over USD 3trn less than a month ago on November 10.
Similarly, bitcoin (BTC) was also down over the past 24 hours. At press time, the number one cryptocurrency stood at USD 47,448, down 4% for the past 24 hours and 17% for the past 7 days.
BTC price last 90 days:
At the same time, ethereum (ETH) stood at USD 3,952, down 6% for the past 24 hours and 8% for the past 7 days.
ETH
Read more on cryptonews.comAbout this in other media
Bitcoin, Ethereum Rebound Sharply After Another Crash while El Salvador Misses 'the F***ing Bottom' cryptonews.com /2 years ago
Analyst says Bitcoin is 'on sale' after BTC price dips below $54,000 cointelegraph.com /2 years ago
The bigger picture: What does El Salvador’s Bitcoin city mean for the global crypto market? economictimes.indiatimes.com /2 years ago
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