The prices of Ethereum and Bitcoin have experienced significant drops, with Ethereum reaching a seven-month low and Bitcoin struggling beneath $27K.
Ethereum has seen a steady decline, now well below the $1,600 mark. Bitcoin, although no longer in freefall, continues to grapple below the $27,000 threshold.
Several days ago, Bitcoin was trading high until it failed to surpass the $28,000 level, resulting in a downturn for the cryptocurrency. This trend has led to Bitcoin falling for the first time in October below $27,000.
Notably, this downward movement has impacted the market cap, which has reduced by several billion and currently hovers just above $520 billion. However, Bitcoin’s market dominance has slightly increased to 50%.
Meanwhile, Ethereum has not fared any better. It was trading near $1,800 earlier this month but began losing value, potentially due to the Israel-Hamas conflict. The cryptocurrency fell by over $200 in days, slipping under $1,550, its lowest price point since March.
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