In the early hours of Saturday, August 3, the price of the leading cryptocurrency fell below $62,000, losing 4.2% over the past 24 hours.
At the time of writing, Bitcoin is trading at $61,750.
The second-largest cryptocurrency by market capitalization fell below the psychological threshold of $3,000 for the first time since July 8, losing 5% in a day.
Most digital assets in the top 10 by market capitalization have entered the “red zone.” Toncoin and Solana saw the largest losses over 24 hours, dropping 6.5% and 5.5%, respectively.
The total market capitalization of digital assets stands at $2.3 trillion.
According to Coinglass, the total volume of liquidated positions over the past day amounted to $289 million, with $247 million in long positions.
The Fear and Greed Index has fallen to 37, indicating growing panic in the market.
Back on July 31, the Fed maintained its key rate. In response, Bitcoin showed a modest correction to $66,400.
On August 1, the leading cryptocurrency fell below $63,000.