The cryptocurrency market experienced a significant decline, with values falling on Sunday and continuing into Monday morning as investors offloaded risky assets. 

Bitcoin dropped by 15% in the past 24 hours, while ether plummeted by 22%, leading to an overall loss of about $367 billion in the cryptocurrency market. Additionally, this sharp decline in crypto prices resulted in over $1.13 billion in liquidations in the derivatives markets. 

The recent selloff in the cryptocurrency market happened alongside a broader decline in Asia-Pacific equities. Japan’s Nikkei 225 fell over 12%, marking its worst day since the 1987 “Black Monday” crash after the Bank of Japan raised interest rates. 

In the US, the Nasdaq slid 3.4% last week, with Amazon and Nvidia leading the declines. 

Since February, Bitcoin hit its lowest level, briefly dipping below $50,000, while ether dropped to around $2,200, erasing its yearly gains. Binance’s BNB and Solana also fell by 20% and 22%, respectively.

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