Bitcoin Tumbles Toward $85K, Crypto Markets Shed Close to $200 Billion

Bitcoin’s price dropped by close to $6,000 a few hours ago, decreasing from over $91,000 to almost $85,000 on Binance. The sharp decline happened in less than a few hours, leaving over $650 million worth of liquidated positions – a stark 390% increase as opposed to the previous 24 hours. Source: TradingView As CryptoPotato reported yesterday, the market was attempting a slow recovery, and Bitcoin had somewhat settled around $91,000. Unfortunately, the bears had something completely different in mind. As you can see from the heatmap below, altcoins are also bleeding out. In fact, their losses are, as per usual, larger than BTC’s. Source: Quantify Crypto XRP is down by 7.3%, SOL by 7%, HYPE by 8.2%, XLM by 8.7%, and so forth. Even ZEC seems to have lost its resilience and has crashed by a whopping 21.6% over the past 24 hours. All in all, the total cryptocurrency market capitalization is down to $3 trillion, according to CoinGecko. There is a slight discrepancy in the data and CoinMarketCap shows that it’s already below that mark. The post Bitcoin Tumbles Toward $85K, Crypto Markets Shed Close to $200 Billion appeared first on CryptoPotato .