The cryptocurrency market saw a notable loss in the past 24 hours as the top 12 crypto assets, excluding stablecoins, dropped roughly 2.3% and a total of $28 billion global market capitalization was lost. Bitcoin, Ethereum, Dogecoin and Shiba Inu have all seen some decrease in the mentioned timeframe.

The largest digital currency, Bitcoin, fell by 2.5% in the past 24 hours and is trading at $27,735. On the other hand, Ethereum is down by 2.1% and trading at $1,784. Dogecoin fell by 7% and is currently trading at $0.078 and Shiba Inu had a smaller decrease of 4.8% and is now at $0.00001072 with a market cap of $6.3 billion. Cardano experienced the least impact of all coins with a 0.5% decrease in the same timeframe and its value is now at $0.386.

The 24-hour drop marks a significant decrease in total crypto market capitalization and value of the top 12 crypto coins, depicting a red market with very few positive signs. Many crypto enthusiasts are looking at the heart of why the crypto market fluctuates so much, with many pointing to news such as the Fed rate hike or FUD when it comes to possible exchanges bankruptcies as a cause of the most recent price movements. Regardless, the crypto market is fluid and unpredictable, offering traders the chance to make big returns with risk management, regular monitoring and a sharp knowledge of macroeconomic elements.



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