Other major cryptocurrencies like Ethereum, Ripple, Solana, Binance, Tether, Dogecoin and Cardano have also suffered significant losses.
The world’s most volatile cryptocurrency market has dealt a severe blow to investors over the past 24 hours. A sudden, massive sell-off has shaken the entire global crypto market. Many people’s investments collapsed like a house of cards in no time. More than Rs 17 lakh crore vanished from the market in just one day. This decline clearly demonstrates that the crypto world is as risky as it appears.
According to CoinMarketCap, the cryptocurrency market cap was USD 3.14 trillion at 9:30 am on Thursday, which fell to USD 2.95 trillion by Friday morning. This means a decline of more than 6 per cent in 24 hours, and with this, investors lost USD 0.19 trillion or about Rs 17 lakh crore. The atmosphere of fear in the market is so deep that the Fear and Greed Index fell to 11, which indicates that investors are selling on a large scale.
Bitcoin collapsed
Even Bitcoin, the biggest name in the crypto market, couldn’t escape this massive decline. In the past 24 hours, Bitcoin has fallen by more than 7 per cent, falling below 86,000. At 9:30 a.m. on Friday, it was trading at 85,750. Bitcoin has plummeted by more than 13% in the past seven days.
According to Vikram Subburaj, CEO, Giottus, Bitcoin’s drop toward the USD 85,000 zone can be seen as the convergence of three pressure points. These are: rising yields worldwide (this tightens financial conditions); institutional flows swinging from steady accumulation to disciplined de-risking; and a market structure that has been running thinner than usual.
What should investors do?
“For investors, the takeaway is simple. Volatility cuts both ways. Bitcoin has gone through far deeper unwinds and still reclaimed new highs once liquidity and flows stabilised. What matters now is watching ETF behaviour, open interest bottoming out, and whether macro conditions stop tightening. Historically, these ‘air pockets’ have offered long-term buyers their best entries. It is uncomfortable, but cycles are built on moments exactly like this,” Subburaj said.
Ethereum, Ripple, and Solana also crashed
Other major cryptocurrencies like Ethereum, Ripple, Solana, Binance, Tether, Dogecoin and Cardano have also suffered significant losses.
- Ethereum: 7.53 per cent down to USD 2799
- Ripple (XRP): 7 per cent down to USD 1.97
- Solana: 7.28 per cent down to USD 132
- Cardano: 7.87 per cent down to USD 0.42
According to CoinMarketCap, the top 100 cryptos are all in the red. Many tokens have registered declines of 10-20 per cent.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
