Crypto Market Sheds $170B in 24 Hours as BTC Dips Below $110k

TL;DR

• Bitcoin has dropped below the $110k mark after losing 2% of its value in the last 24 hours.

• The crypto market has wiped out $170 billion over the last 24 hours. 

BTC Dips Below $110k as Market Continues to Underperform

The cryptocurrency market has been underperforming since the start of the week, with BTC and other major coins currently in the red. Bitcoin has lost 2% of its value in the last 24 hours and has now dropped below the $110k level.

At press time, Bitcoin is trading at $109,479 and could drop lower in the near term. BTC could be heading towards the support level at $107k as sellers currently dominate the market. 

With Bitcoin currently trading below $110k, altcoins are also underperforming. Ether has failed to maintain its price above the $4k support level and now trades around $3,900. XRP is also trading at $2.75 per coin, while BNB has slipped below $1k after setting a new all-time high earlier this month. 

With Bitcoin currently underperforming, the total crypto market cap has now dropped $3.74 trillion.