The crypto market witnessed one of the worst daily losses in months, with all top cryptocurrencies witnessing major losses.
After a day’s breather, the crypto market underwent one of the worst corrections in over a month. Bitcoin (BTC) is likely to restest its 2022 lows after plunging by 5.6% in the last 24 hours. At press time, BTC was trading at $18,790. Ethereum (ETH) witnessed losses to the tune of 8.44% and was trading at $1,520.
All other major cryptos remained in the red, with Ethereum Classic (ETC), UniSwap (UNI), and Litecoin (LTC) as the worst performers. The crypto market cap fell by more than half a grand and stood at $940 billion after a fall of 5.6% in the last 24 hours. Rising interest rates and inflationary pressures continue to add woes to the market prospects.