Following the recent news that Elon Musk’s SpaceX had sold all of its Bitcoin (BTC) holdings in 2021, the majority of assets in the cryptocurrency sector have started the day on the wrong foot, their total market capitalization dropping over 6.26% on the daily chart.
Specifically, more than $62 billion has drained from the crypto market, dropping from $1.1 trillion to $1.037 trillion in a matter of hours following the report by the Wall Street Journal on the rocket company and satellite operator’s finances, including its BTC holdings, shared on August 17.
Total crypto market cap 24-hour chart. Source: CoinMarketCap
Market representatives
Additionally, most digital assets are recording declines in prices, including Bitcoin, which has dropped below $27,000, dropping nearly 7% on the daily chart, which added to its losses of close to 10% in the last week and over 11% in the past month, currently trading at $26,533.
Bitcoin 24-hour price chart. Source: Finbold
At the same time, Ethereu
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