The cryptocurrency market, including Ethereum (ETH), has experienced significant declines since the end of the 2024 bull market. ETH has dropped nearly 50% in value since the election of President Donald Trump. The market as a whole has lost nearly $1 trillion over the past two months. The recent hack of crypto exchange Bybit, resulting in the loss of $1.4 billion worth of ETH tokens, has contributed to the downward trend. Analysts believe that the stolen funds may be sold off in large volumes, prompting investors to sell off their holdings beforehand. Ethereum is currently trading at its lowest price since December 2023. The broader crypto market has also seen major losses, with most cryptocurrencies in the top 20 losing at least 10% of their value in the past week. The uncertainty surrounding US regulatory policies under the Trump administration has made investors more cautious.



Other News from Today