Bitcoin Price Experiences Significant Decline Amid Crypto Market Turbulence
Bitcoin’s price has decreased by nearly 9 percent in the last 24 hours and is down 20 percent over the past week. The overall cryptocurrency market has seen an 8.6 percent decline. Ethereum has been notably affected, falling almost 25 percent in the same timeframe, largely due to a major hack at Bybit exchange.
The cryptocurrency market is experiencing another significant downturn, with the price of Bitcoin dropping nearly 9 percent in the past 24 hours. This decline has contributed to an overall market decrease of 8.6 percent. Over the past week, Bitcoin has suffered a cumulative loss of approximately 20 percent due to a series of market shocks.
Other major cryptocurrencies have faced even greater challenges, with Ethereum, the second-largest cryptocurrency, plummeting nearly 25 percent within the last week. This substantial drop follows a massive security breach at the Bybit exchange, where hackers stole approximately $1.5 billion in digital currency, marking it as one of the largest heists in the history of cryptocurrency.
In summary, the cryptocurrency landscape is currently characterized by significant volatility, particularly for Bitcoin and Ethereum. The recent market shocks, compounded by a major security breach, have resulted in drastic price reductions. Investors are urged to remain vigilant as the situation continues to evolve.
Original Source: www.independent.co.uk
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