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31 October, 2024

Ether Plunges 5.8%, Leading Crypto Market Downward Trend

31 October, 2024

Ether Leads Crypto Market Decline, Bitcoin Dips Below $71K

The cryptocurrency market experienced a significant downturn today, with Ether (ETH) leading the losses, plummeting by 5.8%. Bitcoin (BTC) also saw a dip, falling below the $71,000 mark. This decline has impacted not only cryptocurrencies but also related stocks.

Crypto-linked companies, including MicroStrategy, Coinbase, Robinhood, and bitcoin miners MARA and RIOT, have suffered substantial losses. The downturn comes amidst growing concerns about regulatory uncertainty and the potential impact of inflation on the market.

Analysts are closely monitoring the situation, with some predicting further volatility in the coming days. Investors are urged to stay informed and exercise caution as the market navigates this period of uncertainty.