On Thursday, Bitcoin and Ethereum tumbled to three-month lows, extending a cryptocurrency market downturn that has wiped out $550 billion in value since October. Bitcoin dropped to $71,317—marking its weakest price point since August—while Ethereum briefly dipped under the $2,000 threshold to hit $1,983. These drops have reduced the total valuation of the wider crypto market from roughly $2.94 trillion seen earlier.
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Frequently Asked Questions
How much market value has the cryptocurrency selloff erased?
The selloff has erased $550 billion in market value since October.
What were the lowest prices reached by Bitcoin and Ethereum on Thursday?
Bitcoin slumped to $71,317, while Ethereum briefly fell below $2,000 to touch $1,983.
When was Bitcoin last at the price level it hit on Thursday?
Thursday’s price marked Bitcoin’s lowest level since August.
What was the approximate valuation of the broader crypto market in early October?
The broader crypto market was valued at approximately $2.94 trillion in early October.
