Bitcoin $ 24 970 — the price of the main cryptocurrency fell to an 18-month low

Bitcoin’s value fell by 10% per day and almost 21% over the previous week. Currently, the total market price of BTC is $ 472 billion (the lowest in 18 months).

According to analyst Jordan Major, over the past week, bitcoin has not only stopped trading at $ 31,300, but also lost almost $ 130 billion in market capitalization of the flagship digital asset.

Given that BTC is the largest asset by market capitalization in the cryptocurrency space, changes in its value have a significant impact on the rest of the market, which is currently going through a difficult time. While bitcoin is doing quite poorly, altcoins are in a much worse state. Almost all of the altcoins are experiencing double-digit losses.

The price of Ethereum has fallen below $ 1300, which means a 75% decline from the cryptocurrency’s historical high of $ 4900 in November 2021. Within a few days, Dogecoin, Cardano, Solana, and many others also faced double-digit price declines.