BTC, ETH, SHIB, DOT are crushed amid the market sell-off

Cryptocurrency prices continue to be on a downward trend, with Bitcoin and several large altcoins posting significant losses over the past 24 hours.

Source: Coin360

Shiba Inu, Ethereum, Dogecoin, and Solana are all down around 4%, and Polkadot is down nearly 6%, making it some of the biggest laggards of the day.

Bitcoin, the leading cryptocurrency, is also down nearly 4%. It’s now down 33.4% from its previous all-time high, but it’s still up 62.95% year-to-date.

The crypto king continues to trade in parallel with the US stock market, which is suffering from some selling pressure that day. The technology-oriented Nasdaq is trading 1.84% lower. The S&P 500 and Dow are down 1.46% and 1.71%, respectively, at press time.

Bitcoin is currently trading at its lowest level since December 4th, the day the leading cryptocurrency tumbled more than 17% in a 24-hour period, hitting a local low of $ 42,000.

Source: TradingView

After several failed attempts to get back to the $ 50,000 level, Bitcoin is now looking increasingly fragile and bears have seized the opportunity to push the price down significantly ahead of the weekend. Bitcoin surged above $ 49,000 on Wednesday after the Federal Reserve announced it had decided not to hike rates immediately. However, the recovery was short-lived.

Almost the entire top 100 is in the red, with only three exceptions. Yearn.finance (YFI) rose 34.11% after the team announced a $ 7.5 million buyback. Meanwhile, Waves (WAVES) is up 6% and Avalanche (AVAX) is up 6.3% from the general downtrend in the market.

According to Coinglass data, around $ 310 million in cryptocurrencies have been liquidated in the past 24 hours.

Source: Coinglass

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