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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