The
cryptocurrency market is experiencing one of its strongest sell-offs in months
today (Monday), testing levels not seen since the beginning of 2024. Bitcoin
(BTC) has shed 25% of its total value in just 4 days, shrinking by $320
billion. The rest of the cryptocurrency market lost practically the same amount.

Bitcoin and
Cryptocurrencies Face Strongest Sell-Off in a Year

Bitcoin’s
price is falling by nearly 14% during Monday’s session, testing levels below
the psychological support of $50,000. This is BTC’s lowest price point since
February and marks the fourth day of very strong selling pressure.

In total,
the price has contracted by 25%, or about $16,000. In dollar terms, $320
billion has evaporated from the market since last Friday, erasing the
value stubbornly built by crypto bulls at the beginning of the year.