The global crypto market’s value today slipped over 8% in the past 24 hours to $1.76 trillion, according to pricing from CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also plunged more than 2% to $2,681.
Bitcoin and ethereum are currently trading more than 40% lower compared to their respective all-time highs.
Overall, digital asset investment products or crypto funds saw net outflows totalling $120 million last week , bringing total outflows in this four-week run to $339 million, digital asset manager CoinShares said.