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.
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.