- The altcoins have witnessed significant losses in the last 24 hours. ETH is near breaking down $2,500 after a slump of a 4.5% drop.
- Cronos (CRO) went reverse stream and gained more than 17% in the last 24 hours and traded near $0.11.
The price of Bitcoin fell drastically to a multi-week low of $103,000 and is trading 1.59% low in the past 24 hours. Not only this, but altcoins such as SUI, LINK, DOGE, SOL, ADA, and more have also dropped.
Contrasting this, the price of Cronos (CRO) surged by double digits and went opposite the market trend. On May 22, the price of Bitcoin touched $112,000 to mark a new all-time high; however, the price wasn’t able to hold the momentum. The market capitalization also went down in the last day by 1.11% and is at $2.06 trillion.
After US President Trump announced plans to impose tariffs against the European Union, the next day, the price started to slump drastically. However, the tax imposition was delayed for over a month.
The Loss of $200 Billion
On May 29, the price hovered at $109,000, and then it slumped to $105,000 . However, it recovered a little bit and stood at $106,000 yesterday. But, again, it fell to a 12-day low and hovered slightly over $103,000.
The reason for the decline was attributed to Trump’s statement of violation of the trade agreement by China. The altcoins have witnessed significant losses in the last 24 hours. ETH is near breaking down $2,500 after a slump of a 4.5% drop.
XRP dipped below $2.15, and at the same time, Dogecoin (DOGE), Solana (SOL), Cardano (ADA), Sui (SUI), Chainlink (LINK), and Avalanche (AVAX) have dipped over 9%. The altcoins having lower market capitalization, like ENA, INJ, VIRTUAL, and PEPE, dropped by double digits.
Cronos (CRO) went reverse stream and gained more than 17% in the last 24 hours and traded near $0.11. The overall crypto market witnessed a loss of $200 billion in the last two days and is now to $3.360 trillion.
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