Turmoil in the cryptocurrency world entered a new phase on Wednesday, with Bitcoin falling to a seven-month low, pushing the total market value of cryptocurrencies to wipe out more than $1 trillion. Bitcoin once fell to $88,522 during New York trading hours. The latest round of plummeting affected various investors, ranging from retail "dip hunters" to digital asset finance companies.
Token prices rebounded from lows after Nvidia issued a strong revenue outlook late Wednesday, easing market concerns that the global AI spending boom may cool.
The next psychological levels are located near $85,000 and $80,000. The total cryptocurrency market capitalization peaked at approximately $4.3 trillion on October 6 and is currently hovering around $3.2 trillion.
