Crypto market in deep red, loses more than usd 100 billion in 1 day, bitcoin declines to less than usd 89,0000

Crypto market has declined on Tuesday due to the weakening of investor sentiment and apprehensions about American economy. The largest cryptocurrency bitcoin’s price is more than 7.50 percent in terms of market value. The market has lost more than $ 100 billion in the last one day.

On the International Crypto Exchange after this report is published Binance But the price of bitcoin was around $ 88,260. The second largest cryptocurrency Ether had a loss of more than 9.70 percent. The Ether’s price was trading at $ 2,410. Apart from this, Solana’s price was reduced by more than 12 percent to more than $ 136. Other declining cryptocurrency included Tether, BNB and XRP.

The selling in Crypto Market began last week due to apprehensions about the American economy. Recently, strict decisions of Donald Trump, who took over the US President, have also had a major impact on the crypto and stock markets. Trump plans to impose heavy tariffs on Canada and Mexico. Apart from this, the pressure has also increased due to the intact on the interest rates of the Federal Reserve. The consumer sentiment in the US also remains weak. The possibility of increasing inflation and instability on the economy can reduce the expenditure.

Hacking in the bybit included in the big crypto exchanges has also shocked the market. The hacker has stolen a cryptocurrency of about $ 1.5 billion by breaking into the system of Bybit. It is being described as the biggest theft of cryptocurrency. Ether has been stolen in this hacking. This has broken the price of the Ether. Bybit’s Chief Executive Officer, Ben Zhou had reported that the hacker had controlled one of the offline Etreum Wallets of the exchange. However, the total damage to the exchange in this hacking has not been detected. Bybit may cause a loss of about $ 1.5 billion. The hacker has started selling stolen cryptocurrency. This cryptocurrency is being sold on a new address. Recently, bybit had said that it has paid a fine of more than nine crore rupees in India. The Financial Intelligence Unit (FIU) imposed a fine on Bybit for not following the rules.