The #الكريبتو market loses $90 billion in just one hour

The cryptocurrency market lost about $90 billion of its value within one hour, in one of the fastest sudden drops this year.

The total market capitalization declined from approximately $3.11 trillion to around $3.02 trillion, before later stabilizing near the $3.03 trillion level.

This decline came amid volatility in the crypto market following the #الفيدرالي US decision to cut #الفائدة interest rates by 25 basis points. Lowering interest rates is usually seen as a supportive factor for high-risk assets like #البيتكوين , as investors' appetite for holding dollars decreases and they seek higher returns.

However, the cryptocurrency market did not react as expected this time, with most cryptocurrencies experiencing collective declines, and #Bitcoin dropping about 2.33% over the past 24 hours to $90,368.

Source: Coi,nteleg,raph.
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