Bitcoin and Cryptocurrencies Plunge as $10 Trillion Bitcoin Price Bet Fails
The cryptocurrency market experienced a sharp decline as the bitcoin price dropped nearly 10% in the last 24 hours. This downward trend had a significant impact on other major cryptocurrencies such as ethereum, XRP, and solana, resulting in a combined loss of approximately $100 billion from the overall crypto market. The plunge in prices came as a surprise to many, considering the recent surge fueled by a massive $10 trillion bitcoin spot exchange-traded fund (ETF) bet. Despite the high expectations, Bitcoin and other top ten coins failed to sustain their upward momentum.
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