• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Bitcoin plunges to seven-week minimal, cryptocurrency industry loses $70 billion in industry cap

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

May 20, 2024
Avalanche (AVAX) price is among the few altcoins that have dropped sharply

Avalanche (AVAX) price tag is amid the couple of altcoins that have dropped sharply – Bitcoin News 2024

April 16, 2024

The aftermath of the Silvergate financial institution shutdown continues to haunt the cryptocurrency industry, resulting in Bitcoin charges to drop sharply.

Price motion of the major cryptocurrencies in the industry at 08:35 on ten/03/2023. Source: Coin360

On the late evening of March 9 and the morning of March ten, the cryptocurrency industry seasoned a different big correction, dropping the field capitalization from $one trillion to just $933 billion in twelve hrs.

The motive for the decline is mentioned to be that Silvergate Bank, a USD transaction processing companion of several big cryptocurrency companies in the US, has announced it is ceasing operations. Investors worry that the Silvergate incident could set off a new crisis in the cryptocurrency industry. Positive information about Mt. Gox’s continued delay in paying out BTC to creditors has not been sufficient to sustain the price tag.

Bitcoin at the time of creating is down eight.six% from a day in the past, tumbling to $19,776. This is the lowest BTC price tag in seven weeks and also the 1st time considering the fact that mid-January that the world’s greatest cryptocurrency has dipped under the psychologically critical $twenty,000.

BTC/USDT one-hour chart on Binance exchange at 08:30am 03/ten/2023

Ethereum had a “free fall” from $one,500 to $one,408 in just one hour, also returning to its lowest price tag considering the fact that mid-January.

one-hour chart of the ETH/USDT pair on the Binance exchange at 08:thirty on 03/ten/2023

The big big-cap altcoins are all seeing corrections of among five and ten% proper now, with red filling the charts.

The complete worth of derivatives orders cleared in the final twelve hrs has reached $290 million, mostly BTC and ETH. In addition, the charge of prolonged orders burned accounted for 91%.

Value of the cryptocurrency liquidated in the final twelve hrs, information taken from Coinglass at 08:thirty on ten/03/2023

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: 7weekbillionBitcoincapCryptocurrencylosesmarketplunges
Share76Tweet47

Related Posts

Elon Musk Introduces XChat with New Encryption Features

by shark
June 2, 2025
0

Elon Musk unveils XChat on the X platform, promising Bitcoin-style encryption, raising industry skepticism.

James Wynn Halts Trading After Massive Loss

by shark
June 2, 2025
0

James Wynn, a prominent trader, suspended trading after a high-leverage strategy led from $4 million gains to $100 million, then...

Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly

by shark
June 2, 2025
0

Japan's Metaplanet has acquired 1,088 more Bitcoin for $117.7 million, positioning it among the top ten global holders.

Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak

by shark
June 2, 2025
0

The Bitcoin ETFs experience a net outflow of $157 million, ending six-week inflow streaks, reflecting shifts in investor sentiment due...

Nervos Network’s Force Bridge Compromised in $3M Hack

by shark
June 2, 2025
0

Cyvers Alerts reported a hack on Nervos Network's Force Bridge, compromising over $3 million in assets on June 2, 2025.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Elon Musk Introduces XChat with New Encryption Features
  • James Wynn Halts Trading After Massive Loss
  • Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly
  • Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak
  • Nervos Network’s Force Bridge Compromised in $3M Hack
  • BitoPro Hack: $11.5 Million Lost in Taiwan
  • US Congress Moves to Introduce New Crypto Legislation
  • Singapore’s MAS to Curb Overseas Crypto Activities by 2025
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7