The cryptocurrency market is in the midst of a significant correction, with high altcoins posting double-digit losses
The cryptocurrency market is in the midst of yet one more main sell-off. Bitcoin, the biggest cryptocurrency, has plunged under the $40,000 stage for the primary time since March 16.
Ethereum, the second-largest cryptocurrency, is at present buying and selling under the $3,000 stage on the Coinbase alternate.
All the high 100 greatest cryptocurrencies are at present within the purple. Cardano (ADA), Terra (LUNA), Avalance (AVAX), and Dogecoin (DOGE) have all recorded double-digit losses.
The entire cryptocurrency market cap at present stands at $1.8 trillion, dropping considerably as the results of the continuing sell-off.
The U.S. Federal Reserve’s aggressive financial tightening is seen as the important thing bearish catalyst for the correction.