Crypto Market Plunges: $370 Billion Wiped Out as Bitcoin Drops to 3-Month Low

The cryptocurrency market has experienced a significant downturn today, with its total value plummeting nearly 8% to around $2.9 trillion. This decline has resulted in over $370 billion being wiped out from the market since last week alone. These losses have been driven by massive liquidations, with traders losing approximately $1.51 billion in the past 24 hours. The crypto market is trading in red territory.