Bitcoin and Ether experienced a sudden downturn in the crypto markets today, wiping out gains from previous sessions. In just 60 minutes, Bitcoin plummeted by $2,000, while Ether dropped below the key $3,000 mark. Solana’s SOL also took a hit, falling 4% to $147.
The top 100 cryptocurrencies saw significant losses, with liquid staking leader Lido (LDO) and Bittensor (TAO) experiencing around a 7% decline in the past day. On the flip side, Akash Network (AKT) and TON, a Telegram-affiliated project, emerged as the top performers, climbing 13% and 8% respectively.
Interestingly, the sell-off seems to be contained within the crypto market, as major stock markets and the U.S. dollar remained stable throughout the day. Leveraged liquidations totaling nearly $150 million have occurred in the past 24 hours, with more than half of that amount being liquidated in just the last four hours, according to CoinGlass.
Despite the fluctuations in the crypto market, investors are closely monitoring the situation for potential opportunities and risks. The volatility serves as a reminder of the inherent uncertainties in the cryptocurrency space, highlighting the importance of careful risk management and strategic decision-making.
