Bitcoin Tumbles 20% In Sell-Off

Photo: Investing.com

(Investing.com) - Bitcoin was trading at $29,479.8 by 19:27 (00:27 GMT) on the Investing.com Index on Friday, down 20.34% on the day. It was the largest one-day percentage loss since Mar 12, 2020.

The move downwards pushed Bitcoin's market cap down to $560.7 billion, or 64.63% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $758.5 billion.

Bitcoin had traded in a range of $29,461.5 to $30,838.7 in the previous twenty-four hours.

Over the past seven days, Bitcoin has seen a drop in value, as it lost 22.76%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $75.7 billion or 47.11% of the total volume of all cryptocurrencies. It has traded in a range of $29,457.5137 to $37,931.6875 in the past seven days.

At its current price, Bitcoin is still down 29.68% from its all-time high of $41,921.72 set on Jan 8.

Elsewhere in cryptocurrency trading

Ethereum was last at $1,051.99 on the Investing.com Index, down 30.95% on the day.

Tether was trading at $1.0012 on the Investing.com Index, a gain of 0.04%.

Ethereum's market cap was last at $123.2 billion or 14.20% of the total cryptocurrency market cap, while Tether's market cap totaled $24.7 billion or 2.85% of the total cryptocurrency market value.

Reprinted from Investing.com. The copyright is reserved by the original author.