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<ul> 
 <li style="font-weight: 400">Bitcoin led the decline with 16% as the price crashed <a href="https://coinstats.app/coins/bitcoin/">below</a> $50k in the last 24 hours, while Ethereum plummeted over 23%.&nbsp;</li> 
</ul> 
The crypto market saw a significant drop in value as investors continued to abandon high-risk assets. 
Bitcoin led the decline with 16% and went below $50,000 in the last 24 hours, while Ethereum plummeted over 23% and at the time of writing is trading at $2,230. According to CoinStats, the total market cap is down 11%. At this point it stands at $1.84 trillion. 
<figure id="attachment_78715" aria-describedby="caption-attachment-78715" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-78715" src="http://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-76-483x300.png" alt="" width="634" height="394" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-76-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-76.png 760w" sizes="(max-width: 634px) 100vw, 634px">
 <figcaption id="caption-attachment-78715" class="wp-caption-text">
 BTC Price Chart | Source: CoinStats
 </figcaption>
</figure> 
&nbsp; 
This decline in cryptocurrencies has coincided with a broader decline in equity markets in the Asia-Pacific region. Japan’s Nikkei 225 fell 10%, extending losses from the previous week, after the Bank of Japan announced an increase in its benchmark interest rate to a 16-year high. 
At the time of writing, the leading cryptocurrency has partially recovered and is trading at $51,900, down 27% in the last week, and its market cap has fallen to around $1 trillion. 
It was also reported that $1,000,000,000 was liquidated from the crypto market in the last 24 hours. 
The stock market also suffered a decline last week that was related in part to disappointing earnings, a weaker-than-expected jobs report, higher unemployment and a declining manufacturing sector.&nbsp; 
The U.S. Federal Reserve chose to hold its benchmark interest rate steady and did not promise a September rate cut, which many market experts had included in their forecasts. Lower interest rates usually correlate with better performance of risky assets.

Bitcoin Price Crashed Below $50k

ItsBitcoinWorld

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