Crypto Markets Bounce Back To Red, Volatility Still High
The cryptocurrency markets have bounced back to the red with Bitcoin dipping below $9,000 for a second time in a week.
Bitcoin (BTC) has dropped to as low as $8,607 during the day. By press time it has recovered slightly, trading at around $9,224 with a 2.43% loss of value over the past 24 hours.
The total market capitalization of all cryptocurrencies has declined from yesterday’s high of around $390 bln to about $379 bln, experiencing an intraday low of $351 bln.
Ethereum (ETH) has lost 2.47% of its value in 24 hours and is trading at $717 at press time.
On March 8, the Japanese Financial Services Agency (FSA) has issued ‘Punishment Notices’ for 7 cryptocurrency exchanges and suspended two more after carrying out the inspections prompted by January’s Coincheck hack.