Bloodbath Continues: Crypto Markets Lose $70 Billion, Bitcoin Below $50K

The bears continue to rule over the crypto markets. Most alternative coins have lost substantial chunks of value in the past 24 hours, with ETH below $2,200 and BNB beneath $500. Bitcoin’s brief spike above $50,000 was also unsuccessful, and the asset trades south of that coveted level.

Aside from several brief recovery attempts, the altcoin market has suffered in the past few days. Ethereum went on to register a new all-time on Thursday at $2,650 but has lost nearly $500 since then. As a result, the second-largest crypto struggles below $2,200.

The situation with the rest of the altcoins is somewhat similar. Binance Coin failed at remaining above $500, and a 6.5% dump has driven BNB to $490. Ripple (-8.5%), Cardano (-5.5%), Polkadot (-8.5%), Uniswap (-7%), Litecoin (-4.5%), and Bitcoin Cash (-5.5%) have all bled out in the past 24 hours.

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