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Catching the Falling Knife: Bitcoin, Ethereum Down 50% From All-Time Highs — Billions Leave Crypto Economy

The crypto economy has dropped considerably in value during the last five weeks, slipping 23.28% from $2.19 trillion to today’s $1.68 trillion. Furthermore, both bitcoin and ethereum are awfully close to sinking 50% below the all-time highs recorded six months ago.
Bitcoin Sinks Lower Against the US Dollar, 39% Down in 30 Days
Digital currency markets have been in the red during the last few weeks, as a great number of crypto assets have seen significant percentage losses. During the last 24 hours, the crypto economy has shed 3.6% against the U.S. dollar. Bitcoin (BTC) dropped to a low on Saturday evening around 11:00 p.m. (ET), hitting $34,279 per unit.

Presently, BTC is below the $35K mark and since the all-time high ($69K) on November 10, 2021, BTC has lost 49.6%. At the time of writing, BTC’s market valuation is around $662 billion, which equates to 39.4% of the $1.68 trillion crypto economy.

BTC’s most dominant trading pair today is tether (USDT) with 57.03% of all trades,

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