Crypto Market Experiences Significant Downturn

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25 Feb 2025 — 1 min read

Crypto Market Faces Major Downturn

The cryptocurrency world experienced a significant drop as Bitcoin (BTC) fell below the $87,000 mark. This decline, which started on Monday, continued into Tuesday, affecting the entire market. These movements paralleled a decrease in U.S. equity indexes, while the rising yen reminded many of the risk aversion spike seen in August.

Bitcoin, the frontrunner among cryptocurrencies, hit a low of $86,100, a value it hasn't seen since mid-November, according to CoinDesk data. Ether (ETH), the second-largest cryptocurrency by market capitalization, witnessed a 10% decrease over the previous 24 hours, landing at $2,400. Meanwhile, Solana's SOL token plummeted by 14%, contributing to a total weekly loss of more than 20%. Dogecoin (DOGE) and xrp (XRP) also faced setbacks, with each losing 11% of their value.

Reflecting the overall trend, the CoinDesk 20 Index (CD20), which tracks a wider range of the crypto market, saw a 5.6% drop. These market fluctuations underline the volatility and interconnectedness of global financial indicators.

Please be advised that the content in this article is provided solely for informational purposes and should not be construed as professional advice regarding legal, tax, investment, financial, or other matters.

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