Market in a Sea of Red (BTC, SOL, ADA, SHIB)

After failing to maintain its upward pace, the cryptocurrency market is currently under strong selling pressure.

Over the last day, the overall market value has decreased by $65 billion, falling below $1.8 trillion. It is currently down 40% from its peak of around $3 trillion on November 10th.

The biggest losers have been Solana (SOL), Avalanche (AVAX), and Ethereum (ETH), which have all dropped more than 6%.

Bitcoin, the world’s most popular cryptocurrency, fell to $41,077, its lowest level since February 28.

In less than three days, the cryptocurrency has lost about 10% of its value, putting bears back in control.

Bitcoin fell to a one-month low of $34,324 on February 24. It did, however, make a spectacular price recovery and reclaimed the $45,000 level for the first time.

Meme coins like Shiba Inu and Dogecoin have also dropped by more than 3%.

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