In early July 2024, the cryptocurrency market experienced significant turbulence, with Bitcoin (BTC) and Ethereum (ETH) prices continuing to decline.
Between July 4 and 5, the total market capitalization of all cryptocurrencies plummeted by around $270 billion before conditions improved, reducing losses to nearly $100 billion.
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The crypto market crash saw losses of nearly $64 billion on the final day.
Following this downturn, the global market capitalization of cryptocurrencies fell below $2 trillion for the first time since late February. However, as of the time of writing (July 5, 16:50 Bulgarian time), it has slightly recovered to $1.99 trillion.
This figure isn’t as bad as it sounds, as earlier in the morning, the overall market capitalization of the sector had dropped to $1.906 trillion.
