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The price of Ether, the second-largest cryptocurrency, has dropped below the psychologically important $4,000 level for the first time since Oct. 28.
It is currently trading at $3,969 on the Bitstamp exchange.
Ether is now down 17.44% from its all-time high of $4,878 that was reached just eight days ago.
In the meantime, Bitcoin (BTC) is currently trading below the $57,000 level, pushing the rest of the cryptocurrency market significantly lower. The crypto king is struggling to regain bullish momentum after hitting its lifetime peak of $69,044 on Nov. 10.
Solana (SOL) and Shiba Inu (SHIB) are the biggest laggards among the top altcoins, dropping 12% and 15%, respectively, over the past 24 hours.
Related
Bitcoin and Ether are both down roughly 5%.
According to Coinglass data, $271 million worth of crypto has been liquidated over the past four hours across major exchanges.
Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.
