Market Cap Plummets: Crypto Market Loses $500 Billion in a Week

Crypto Market Faces Massive Sell-Off

Recently, the crypto market experienced severe volatility as Bitcoin's price sharply declined, triggering panic among investors. The total market cap plummeted by nearly $500 billion within a week.

Overall Market Performance

As the largest cryptocurrency by market cap, Bitcoin's drop was the main catalyst for the market downturn. Other major cryptocurrencies also suffered significant price declines.

Long-Term Impact Analysis

• The market has lost over $1.7 trillion since its peak in October last year.
• Investor confidence has been shaken, and the market may remain volatile in the short term.
• Experts advise long-term holders to stay calm and avoid panic selling.

Despite the short-term volatility, the fundamental and technological development of cryptocurrencies remains positive, and the long-term outlook is still promising.