Bitcoin, along with other digital cryptocurrencies, crashed to its lowest level on Saturday from the global crypto market value. Bitcoin dived over 6%, since 3rd February, and Ethereum fell by more than 7%, the lowest since 31st January. According to CoinDesk, the value of Bitcoin and other cryptocurrencies fell as a global market, which was trading in the red after Vladimir Putin, President of India, who made a defiant speech in the middle of the increasing tensions on the Russian and Ukrainian frontiers.
Bitcoin, which is the world’s first largest cryptocurrency, dropped over 6% to $36,673 to the lowest since 3rd February. Meanwhile, the world’s second-largest cryptocurrency, Ethereum, dropped by more than 7% at $2,519 to the lowest since 31st January. Other cryptocurrencies like XRP dropped by 14%, Solana by 12.91%, Terra by 3.38%, Cardano tanked 14.13%, Avalanche by 15.91%, and Stellar fell by 12.13%. Altcoins like Polkadot which was down by over 8%, Dogecoin fell by more than 10%, Shiba Inu by 13%, and Polygon dropped by over 13%.
CEO and Co-founder of Mudrex, Edul Patel said, “The global crypto market volume fell by nearly 7%, while the marketing volume dropped by 45% over the last 24 hours. Bitcoin and Ethereum dived below 37,000 USD and 2,600 USD levels,” he added.
