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The cryptocurrency market is in the course of a significant correction, with prime altcoins posting double-digit losses
The cryptocurrency market is in the course of yet one more main sell-off. Bitcoin, the biggest cryptocurrency, has plunged beneath the $40,000 stage for the primary time since March 16.
Ethereum, the second-largest cryptocurrency, is at present buying and selling beneath the $3,000 stage on the Coinbase trade.
All the prime 100 largest cryptocurrencies are at present within the pink. Cardano (ADA), Terra (LUNA), Avalance (AVAX), and Dogecoin (DOGE) have all recorded double-digit losses.
The whole cryptocurrency market cap at present stands at $1.8 trillion, dropping considerably as the results of the continued sell-off.
The U.S. Federal Reserve’s aggressive financial tightening is seen as the important thing bearish catalyst for the correction.
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