Cryptocurrency market loses nearly $100 billion after bitcoin tanks

The cryptocurrency market lost around $98 billion after bitcoin plunged to below $30,000 for the first time in four weeks.

The global cryptocurrency market capitalisation is $1.2 trillion, a decline of over percent in the past 24 hours, according to data from CoinMarketCap (Image: Reuters)

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The global cryptocurrency market capitalisation declined to $1.2 trillion, a fall of over percent in the past 24 hours, data from CoinMarketCap shows.

Bitcoin, the world’s largest cryptocurrency by market capitalisation, was trading at slightly above $29,600, over 6 percent lower than the previous day.

Ether and dogecoin were down more than 8 percent, while binance tanked more than 12 percent.

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