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Home Markets Cryptos

Crypto tsunami as bitcoin suddenly loses $9,000

Olumide Adesina by Olumide Adesina
September 7, 2021
in Cryptos, Markets
Elon Musk’s tweets wrecks Crypto market, as investor loses $90 million
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In one of the most volatile days of the year, BTC price action fell below $43,000 as trading continued on September 7 after trading above $52,000 in the early hours of Tuesday

Ironically, U.S. Treasury yields, which are on the rise, prompted investors to trim their risky asset positions on Tuesday before a European Central Bank meeting this week.

Currently, the price of bitcoin trades at around $47,200, well below the minimum, as the price is still unstable.

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Over 200 billion worth of Crypto was lost, amid record selling pressures. Over the last day, the global cryptocurrency market value decreased by 11.94% to $2 trillion.

For the day, the total crypto market volume was $184 billion, an increase of 34.88%. The current volume in DeFi is $14.75 billion, or 13.44% of the market’s 24-hour volume.

The volume of all stable coins is now $144.6 billion, which is 78.54% of the total crypto market’s 24-hour volume.  Bitcoin’s dominance is currently 42.82%, an increase of 1.36% over the day.

About 4:20 pm on Tuesday, $3,534.87 was trading for the leading altcoin, down 10.28% for the day. Since June 21, it was the biggest one-day percentage loss.

As a result of the move downward, Ethereum has a market cap of $429.82 billion, constituting 19.27% of the total cryptocurrency market value. At its peak, Ethereum’s market capitalization reached $479.2 billion.

The Ethereum price ranged from $3,514.60 to $3,945.79 for the day.

Tags: Bitcoin
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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