The cryptocurrency market lost 240 billion dollars within 24 hours, marking one of the largest declines in history. This was reported by the Mash Telegram channel.
What caused it?
The first reason cited is China's new artificial intelligence – DeepSeek.
It caused major competition.
- Since the technology sector has traditionally been associated with digital assets, it affected the market.
- Additionally, after a prolonged period of growth, cryptocurrency sales increased and prices dropped.
The third factor is the policy of the United States Federal Reserve System (FRS). Furthermore, due to new orders by Donald Trump, heavy tariffs were imposed on imports from Canada, Mexico, and China, which impacted financial markets.
According to Coinglass data, on the night of February 3, crypto traders lost more than 2 billion dollars.
In the last 24 hours, forced closed trading positions amounted to 2.24 billion dollars. More than 730 thousand traders suffered losses.
The Bitcoin rate fell from 100 thousand dollars to 93 thousand dollars on the morning of Monday, February 3.
At 11:10 (Moscow time), the first cryptocurrency was at 95,430 dollars.
This information is provided for informational purposes only and does not constitute individual investment advice. Read 'Zamin' on Telegram!
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