
Bitcoin and Other Cryptocurrencies Continue to Fall Despite Weekend’s Selloff
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Cryptocurrency prices continued to fall today as Bitcoin crashed below $48,000 on Monday morning
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This is coming after a weekend crash that caused the flagship cryptocurrency to dump from $56,000 to $42,000 before slightly recovering
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According to data from CoinGecko, the Global crypto market cap has crashed by more than 5% in the last 24 hours
Cryptocurrency prices fell today, with Bitcoin trading at $47,400. This is about 4% less than yesterday’s high.
This coming after the world’s largest cryptocurrency fell to $43,000 on Saturday morning, following a crash of the entire crypto market.
Similarly, other major cryptocurrencies such as Ether and Dogecoin slipped as CoinGecko reported a 5% decline in the global cryptocurrency market cap.
The price of Ether tumbled by 4% to $4,062 while meme cryptocurrency Dogecoin went down by 6% to $0.16.
Dogecoin’s crash was surpassed by that of Shiba Inu which fell more than 8% to $0.000034.
Some other coins trading with losses in the last 24 hours are Litecoin, XRP, Polkadot, Uniswap, Cardano, Solana, and Polygon.
The selloff is happening ahead of the testimony by executives from eight cryptocurrency firms before the United States’s Financial Services Committee.
Read also: Bitmart Loses $200 Million Worth of Crypto to Hackers
This hearing will mark the first time that executives of major cryptocurrency exchanges will testify before US lawmakers.
At the moment, Bitcoin has lost more than $21,000 from its all-time high of $69,000 in November but hr remains out by 65% for the year.
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