As Bitcoin Price Drops Over 25% Within 24-Hours, Crypto Markets Incur Heavy Losses

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Bitcoin

In the past 24 hours, the cryptocurrency markets have witnessed heavy losses. This is primarily due to the fact that the whole crypto market capitalization has declined below $1 trillion and has now landed at $823 billion. This indicates an approximately 9.9% loss in value. Meanwhile, on 10th January, Sunday, the Bitcoin price has plummeted more than 25%.

This is considered as the biggest price drop in this new year of 2021.

Biggest Dive Of Bitcoin Price

The market of digital currency has entered a red zone since Monday. This is because the crypto assets experienced a loss ranging between 15% and 30% in the past 24 hours.

Additionally, the most expensive cryptocurrency by market cap, BTC has dropped more than 20% during the time of the publication. Bitcoin price has declined to a very low and is presently standing at $30,261 as of Monday afternoon. This indicates a 25.2% loss as compared to the $41,056 mark they had hit on Sunday.

During the time of writing, Bitcoin price was over $32K along with a $38 billion trading volume of global BTC.

Ethereum has also lost considerable value in the past 24 hours as they are also 27% according to the market cap. ETH had been trading at $933 after they successfully managed to touch over $13K the day before.

XRP had a loss of 15% while BCH (bitcoin cash) sank 30% today.

The largest gainers today have been experiencing an 8%-91% increase on Monday as their token stakenet has been leading the industry. Several other crypto assets including DAG, MXC, ZEN, and STK have experienced a huge gain.

The analysts of eToro stated that they are hopeful of the Bitcoin price reaching over $70K.