The total cryptocurrency market cap fell by $ 70 billion in less than two hours after a major correction. It has to be said that the last two hours have been the craziest hours in the cryptocurrency market in the past few years.

 

The total cryptocurrency market cap has risen to over $ 900 billion and has lost nearly $ 70 billion in just one instant.

 

Bitcoin wiped out $ 6,000

Bitcoin, which was traded at $ 33,000 in the morning, dropped to $ 27,000, deleting $ 6,000.

At the time of writing, Bitcoin is trading at $ 28330.

 

ETH lost almost $ 300 in two hours

There is no doubt that Ethereum has been the focus of attention over the past few days. ETH has skyrocketed yesterday claiming it raised major resistance levels. It managed to rise to $ 1,173 on Binance.

The interesting thing is that this happened less than a few hours ago .. But things have changed since then.

As seen in the chart above, the cryptocurrency dropped to about $ 914 in two hours, with a total loss of about $ 270. At the time of this writing, ETH has recovered and is currently trading around $ 920.

 

Market Falls 70 Billion Dollars

Just a few hours ago, the total cryptocurrency market cap was at $ 910 billion. Now, in less than a few hours, it fell from about $ 70 billion to $ 840 billion.

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In the last hour alone, more than $ 314 million long positions have been liquidated. Most of the purges took place at Binance.

It will be interesting to see if this is a temporary drop or a long-term correction. In times of extreme fluctuations, such as today, it is important to be particularly careful.

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