The price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has collapsed by 10%, according to data provided by CoinGecko.
The altcoin has plunged to an intraday low of $1,601, and the sell-off is seemingly getting worse.
Bitcoin, the leading cryptocurrency, has also tanked below the $79,000 level, reaching a new intraday low of $78,882. However, its losses are not as catastrophic as those of Ether. The ETH/BTC ratio has now collapsed to the lowest level since March 2020.
"I, for one, am super excited to get to buy ETH at double digits again," analyst Adam Cochran joked on X.
Dogecoin (DOGE) and Solana (SOL) are also close to recording double-digit losses.
The cryptocurrency market is getting crushed after the U.S. stock market lost more than $6 trillion in two days earlier this week.
Even though Bitcoin performed surprisingly well during the aforementioned crash, it is now showing its risk-on side once again.
Jason Calacanis, a prominent American angel investor, has predicted that Bitcoin could potentially plunge to $60,000 this year.
According to Fox Business reporter Charles Gasparino, major Wall Street trading desks are preparing for very intense selling. He has compared the current sell-off to the 2008 market crash.
Read original article on U.TodayBreaking: Big Wall Street trading desks will be manned in time for tonight’s futures open. They are preparing for more selling, intense selling. But you also hear talk about “value” and how some really good stocks are “over sold.” But bearishness is clearly the overwhelming…
— Charles Gasparino (@CGasparino) April 6, 2025
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。