Crypto Market’s Massive Meltdown: What We Know and What’s Next

The events that transpired in the past day or so are not unusual in the ever-volatile cryptocurrency market, but they tend to harm certain traders more than others. While many felt the pain of being liquidated, others seem to profit.

In the span of just 12 hours or so, the entire market went from a capitalization worth $4.120 trillion on TradingView to $3.3 trillion, which meant a wipe-out of almost $900 billion. This pushed the metric down to its lowest levels since July, erasing months of gains, before it recovered to $3.670 trillion as of press time.