The cryptocurrency market has lost $80 billion.

The global cryptocurrency market lost approximately $80 billion in market capitalization in just 24 hours, following new US airstrikes on Iran in the early hours of May 28th, raising concerns that conflict in the Middle East could escalate again.

The cryptocurrency market has lost $80 billion.

According to data from cryptocurrency market data and analytics platform Coinglass, the sell-off triggered nearly $1 billion in liquidation orders on leveraged trading markets, increasing downward pressure on major digital assets.

Another factor contributing to the weakening cryptocurrency market is the outflow of capital from spot Bitcoin ETFs in the US. Since the beginning of May, investors have withdrawn approximately $1.5 billion from Bitcoin ETFs. Meanwhile, BlackRock's iShares Bitcoin Trust (IBIT) recorded its second-largest outflow ever on May 27th, with approximately $527.8 million withdrawn.

For Ethereum, the sharp price drop has caused the volume of open contracts on the Ether futures market to surge to a record high of approximately 16 million ETH, reflecting a growing trend of betting on the possibility of further price declines.

Source: https://quangngaitv.vn/thi-truong-tien-dien-tu-boc-hoi-80-ty-usd-6520625.html