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    Bitcoin and cryptocurrency prices, including major coins ethereum, Binance’s BNB, solana, cardano and XRP, have dropped sharply, wiping almost $200 billion from the combined crypto market in just 24 hours.

    Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains

    The bitcoin price has crashed 10% over the last 24 hours, dropping under $40,000 to around $38,000, a level not seen since the summer of 2021. Meanwhile, the price of ethereum, BNB, solana, cardano and XRP have all dropped between 7% and 11%.

    The sudden sell-off comes as stock markets around the world sink, with the tech-heavy Nasdaq 100 NDAQ -0.6% falling into correction territory as investors face up to the reality of a more hawkish Federal Reserve and higher interest rates.

    Sign up now for the free CryptoCodex—A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday

    MORE FROM FORBES
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    By Billy Bambrough
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    Crypto’s Nightmare $1 Trillion Price Crash: What Next For Bitcoin, Ethereum, BNB, Solana, Cardano And XRP?
    bitcoin, bitcoin price, crypto price, crypto crash, ethereum, ethereum price, solana, cardano, XRP, image
    The bitcoin price has crashed to under $39,000, dragging down the price of major cryptocurrencies … [+] SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES
    Ethereum, the second-largest cryptocurrency after bitcoin, has dropped under the closely-watched $3,000 per ether level, as ethereum’s biggest rivals BNB, solana and cardano have all moved sharply lower after making huge gains over the last year.

    The crypto price crash has now seen around $1.2 trillion wiped from the combined crypto market after it hit an all-time high of $3 trillion in November. The bitcoin price is down almost 50% from its peak of nearly $70,000 per bitcoin.

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