Bitcoin's price has dropped below $88,000 for the first time since mid-November, with the altcoins experiencing even worse declines. This downturn comes after a recent recovery and attempted push towards $100,000. The hack against Bybit halted Bitcoin's ascent and led to a violent correction, causing its market capitalization to plunge by $150 billion in a day. The dominance of Bitcoin over the altcoins has grown to 58.8%, indicating significant losses across the board. The cumulative market capitalization of all cryptocurrencies has also dropped by over $300 billion in a single day, falling below $3 trillion.



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