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    A massive loss of $200 billion was recorded in the crypto market after Bitcoin, Ethereum, and other cryptocurrencies fell sharply!

    Many cryptocurrencies, including significant ones like Bitcoin, Ethereum, Dogecoin, and others, have plunged drastically as ‘extreme panic’ grips crypto traders.

    According to a Forbes story, the crypto market has lost about $200 billion in only a few days following the US Federal Reserve’s largest rate rise in over two decades.

    Bitcoin fell below $35,000 per coin on Sunday, as the global crypto market fell by more than 4.5 % in the last 24 hours to $1.66 trillion. According to IANS, Bitcoin has dropped more than 20% since the beginning of the year. Bitcoin was trading about $34,400 yesterday, while Ethereum, the second-largest cryptocurrency, fell 4.8 % to $2,545.

    According to IANS, Dogecoin prices were down over 1.2 % at $0.12, while Shiba Inu prices were down about 4.9 % at $0.00001887.

    All of this follows the US Federal Open Market Committee’s (FOMC) decision last week to raise interest rates by 0.5 %, the largest increase in over two decades.

    Chairman Jerome Powell stated that interest rates were hiked to combat inflation.

    According to Cointelegraph, the price of bitcoin has dropped by more than 40% since November 2021.

    Bitcoin just concluded April with a 17 % loss, making it the worst monthly performance of the year. According to a recent analysis by CryptoAssetRecovery.com, Bitcoin will lose between $272 million and $545 million this year.

    According to a Reuters morning report, Bitcoin fell to $33,266 in morning trade today.

    According to Forbes, the Bitcoin Fear and Green Index, which collects data from social media postings, polls, volatility, and trading volume, this week’s bitcoin and crypto meltdown has produced a dramatic drop in market mood. After falling into “severe dread” area in April, the gauge has now dropped even more.

    In recent weeks, stock markets have continued to lose ground, with the Nasdaq experiencing its worst weekly losing streak since 2012. While India’s stock market has also been in the negative.

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