The cryptocurrency market experienced a significant downturn late Tuesday, wiping out billions in value as Bitcoin and other major digital assets plummeted.
Bitcoin Hits Three-Month Low
Bitcoin (BTC) sharply declined below $87,000, reaching a three-month low of $87,115. According to CoinGecko, the leading cryptocurrency fell 8% in the past 24 hours, while other sources reported its value dropping as low as $86,500. This steep decline erased the past week’s gains and intensified losses across the broader crypto market.
Altcoins Take a Hit
The market downturn triggered double-digit losses in major altcoins. Ethereum (ETH) dropped 11%, falling to $2,500, while Solana (SOL) plunged 13.7% to $135.46—its lowest level since September 2024. Over the past month, SOL has recorded a staggering 46.6% decline.
Dogecoin (DOGE) also suffered a heavy loss, plummeting 13% in the past 24 hours to $0.1192, marking its lowest price since November. The meme coin has lost 43% month-over-month.
Market-Wide Sell-Off Linked to US Stock Market Decline
The broader cryptocurrency sell-off coincided with a downturn in the US stock market, where the Nasdaq Composite dropped over 1%. The decline was driven by trade tensions and falling AI-related stocks, prompting a risk-off sentiment among investors. This shift has affected both traditional and digital asset markets, leading to widespread losses.
