Cryptocurrency Market Suffers $100 Billion Loss Amidst Sharp Decline

The cryptocurrency market is experiencing a sharp decline, with the total market cap dropping by $100 billion in just two days.

Bitcoin has hit a new monthly low of over $74,000 after being rejected at $78,000 earlier this week. The asset had previously surged to $82,000 but was unable to sustain its momentum.

The decline is not limited to Bitcoin, as several altcoins have also seen significant drops in value. Ethereum has plummeted to $2,000, while BNB and XRP are down by around 10% and 20%, respectively.