Crypto plunge wipes out $400B in a week
Cryptocurrency markets tumbled Friday, with bitcoin down more than 10% to $81,919 and over one-third below its October record, as a broad sell-off erased nearly $400 billion in market value over the past week, per CoinGecko. Global crypto market capitalization fell to about $3 trillion; Bloomberg said bitcoin is on track for its worst month since June 2022, and Unlimited Funds CEO Bob Elliott noted the move mirrors stock weakness but with more extreme swings.
Cryptocurrency Markets
U.S. Economy and Markets
📌 Key Facts
- Bitcoin hit a Friday low of $81,919, off >10% in 24 hours (CoinGecko).
- Global crypto market cap fell nearly $400B in a week to ~ $3T.
- Bitcoin has dropped more than one-third since breaking ~$126,000 in early October.
- Bloomberg: Bitcoin headed for worst month since June 2022.
- Unlimited Funds CEO Bob Elliott: crypto selling mirrors stock weakness, but is “much more extreme.”