{"id":499195,"date":"2024-04-02T11:07:16","date_gmt":"2024-04-02T11:07:16","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=499195"},"modified":"2024-04-02T11:07:16","modified_gmt":"2024-04-02T11:07:16","slug":"cryptocurrency-flash-crash-slices-4-off-crypto-market-cap-as-bitcoin-solana-dogecoin-plunge","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cryptocurrency-flash-crash-slices-4-off-crypto-market-cap-as-bitcoin-solana-dogecoin-plunge","title":{"rendered":"Cryptocurrency Flash Crash Slices 4% Off Crypto Market Cap As Bitcoin, Solana, Dogecoin Plunge"},"content":{"rendered":"

The crypto market cap plummeted over 4% in the past 24 hours in a flash crash that saw <\/span>Bitcoin<\/span><\/a> (BTC) plunge below $67K and the top 10 cryptos all suffer substantial losses.<\/span><\/p>\n

BTC saw its price fall more than 4%, while altcoin leader Ethereum (ETH) shed more than 5% of its value over the past day of trading. <\/span><\/p>\n

Dogecoin<\/span><\/a> (DOGE) was the biggest loser among top cryptos by market capitalization with a 9% plunge, trailed closely by Avalanche (AVAX) with more than 8%. \"Exploring<\/span><\/p>\n

Crypto Flash Crash Ignited By Long-Term Holders<\/span><\/h2>\n

The selloff also brought an end to the positive streak for <\/span>Solana<\/span><\/a> (SOL), which plunged 7% to trade at $182.37 as of 5:50 a.m. EST.<\/span><\/p>\n

Meanwhile, Binance Coin (BNB) and XRP both tumbled more than 3%, while Cardano (ADA) dropped 6%. <\/span><\/p>\n

Crypto exchange Bitfinex attributed the drop to long-term holders (LTHs) taking profits after Bitcoin hit new all-time highs. It added that this selling is on a smaller scale than during previous bull market peaks.<\/span><\/p>\n

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Despite selling pressure from LTHs, analysis using UTXO Age Bands indicates buying activity. This serves as a support level, driven by new investors joining and existing investors increasing their positions, showing belief that the market can go higher 📈https:\/\/t.co\/LJrGTOQ6Y1<\/a><\/p>\n

— Bitfinex (@bitfinex) April 1, 2024<\/a><\/p><\/blockquote>\n