Crypto Market Sudden Plunge Leads to Over $1 Billion Loss

The crypto market cap fell by more than 5% today, with a plunge led by Bitcoin and Ethereum . The massive decline, one of the biggest one-day drops for the sector in weeks, marks a complete turnaround from Wednesday’s positive price performance. The entire market had risen the day before, spurred by Bitcoin’s climb above $80,000. However, the positive sentiment did not last as Bitcoin fell 5% in the last 24 hours to below $76,000. With the massive decline, the entire crypto market cap dropped to $2.54 trillion, the lowest level since mid-August.