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Cryptocurrency markets lost $100 billion in a single day as Bitcoin fell near $40,000

Bitcoin attempted its hand at $43,000 yesterday, but was roundly rejected at that price, plummeting about $3,000 in a matter of hours. The majority of altcoins are also in the red today, with Ethereum on the verge of breaching below $3,000 and BNB barely around $400.

At $43K, Bitcoin failed.

Since the early Monday drop, when bitcoin’s price plummeted below $39,000, marking a monthly low, the sentiment surrounding the commodity has been significantly more optimistic.

On Tuesday, the cryptocurrency quickly regained all of its losses and even surpassed $41,000. It rose to an all-time high of $42,000 a day later, where it ran into some opposition but was eventually able to overcome it.

As a result, BTC continued to rise, reaching an 11-day high of slightly under $43,000 yesterday. The situation, however, took a turn for the worst at this point.

Instead of continuing north, bitcoin began to rapidly lose value. It dropped roughly $3,000 in a few of hours, briefly falling below $40,000. (on Bitstamp).

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