The cryptocurrency market has plunged across the board, significantly dampening investor sentiment. Bitcoin's decline has widened as it has fallen below the $70,000 mark, and major altcoins like XRP have also seen significant declines, spreading anxiety across the market.
According to global data, Bitcoin has recently fallen below $70,000 amidst selling pressure, continuing its bearish trend. Several major altcoins have also fallen, highlighting the overall market weakness.
On-chain analytics platform aggregates indicate that approximately $775 million worth of leveraged positions were liquidated across the cryptocurrency market over the past 24 hours. This demonstrates the market's rapid price movements and the resulting escalation of investor losses.
XRP's price also plummeted, recording significant losses. Cryptocurrency price data shows that XRP has seen significant declines in recent trading days.
The fear and greed index, which indicates market sentiment, is assessed as low, indicating extreme fear levels in various indicators, which is interpreted as a strengthening of risk-averse sentiment among investors.
The overall cryptocurrency market capitalization also declined sharply, reflecting deteriorating investor sentiment. Some analysts believe this correction is causing panic among short-term investors and that the market is continuing to test psychological support levels.
Experts said, "This plunge reflects a general weakening of investor sentiment rather than a simple correction," adding, "Market volatility could continue to increase."
