Bitcoin Plunges To $41K As ‘Sell the News’ Rout Deepens; Ether, Pepe Extend Decline

The crypto market was navigating turbulence on Friday, with major digital assets tumbling. After a brief but spectacular rally following the approval of spot Bitcoin exchange-traded funds (ETFs) in the US, the OG cryptocurrency Bitcoin has seen a steady decline in its prices.

Headwinds for the crypto market continue to linger, with more than $247 million in crypto liquidated in the past 24 hours. Bitcoin long positions worth nearly $68 million alone were liquidated during that period, according to data from CoinGlass.

Bitcoin’s (BTC) price sank another 3.6% in the past 24 hours. At one point, the BTC price fell to as low as $40,800 — the lowest in a month. However, Bitcoin recouped some losses and was last seen changing hands at $41,080. Bitcoin’s market cap slipped to $806 billion while trading volumes rose over 30% to $26.6 billion in the last 24 hours.

Ethereum — the third largest crypto — also went into a descent, sliding 2.8% over the last 24 hours to $2,460. At press time, Ether commanded a market cap of $295.5 billion while trading volumes stood at $11.9 billion, up 18% over the last 24 hours.

While Tether (USDT) price rose marginally to $0.99, BNB climbed 0.6% to $311.25. The remaining top 10 cryptocurrencies by market cap saw a steep decline in their prices in the past 24 hours.

Solana (SOL) price was down 6.7%, XRP price was off 3%, Cardano (ADA) price was down 5%, and Avalanche (ADA) price plunged over 7%. Popular meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB) slid over 3% each.

In sync with the negative sentiment, the global crypto market crashed nearly 3.5% to $1.62 trillion. The fear and greed index level stood at 56, indicating investor sentiment has taken a hit.

Top 3 Cryptos For Today

Pepe Price Falls Over 5%

The price of Pepe Coin tumbled over 5% over the last 24 hours to $0.000001125. Consequently, its market cap fell to $473.7 million. Its trading volume over the last 24 hours rose marginally to $73.3 million.

SEI Price Plummets 9%

The Sei Network’s namesake token has seen a more than 9% decline in its prices over the last 24 hours. At press time, SEI’s price stood at $0.717, while its market cap fell to $1.7 billion. The 24-hour trading volumes stood at roughly $502 million, down 5% in the last 24 hours.

Conflux Price Surges Nearly 2%

Conflux, the namesake token of the Layer 1 public blockchain Conflux, rose about 2% in the past 24 hours to $0.1985. Its market cap surged to $720.8 million while trading volumes skyrocketed 257% in the past 24 hours to $224.3 million.

Also Read: US SEC Delays Resolution of Fidelity Spot Ethereum ETF to March

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