Cryptocurrencies have lost nearly half a trillion dollars of their market value in less than a week as selling intensified, especially for Bitcoin.$BTC
Bloomberg reported that the total market value of cryptocurrencies has declined by $467.7 billion since January 29, according to data from "CoinGecko," a site dedicated to tracking the performance of cryptocurrencies in the markets.
Bloomberg added that the value of Bitcoin dropped yesterday, Tuesday, to its lowest level since U.S. President Donald Trump won the presidential election in November 2024, during which he promised that the United States would become the capital of cryptocurrencies, and his administration adopted supportive policies for these currencies.
The same agency reported that the price of Bitcoin fell to $72,877 per coin, the lowest value in about 15 months, before rising to about $75,900 Wednesday morning in New York.
The price of Bitcoin has decreased by about 40% since it reached a record high in October last year, due to a widespread series of liquidations, as many investors sold their cryptocurrencies, which reflected on its value in the markets.$ETH $BNB
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