Crypto marked had its Black Wednesday, Bitcoin nose dives to the lowest levels since October 2017

Tanya Abrosimova Independent Analyst

Cryptocurrency market is panic-stricken. The massive sell-off started on Wednesday and gathered pace on Thursday with total market capitalization falling as low as $184B - for the first time since October 2017.

Late on Wednesday, Bitcoin collapsed to $5,312 before recovering to $5,536 by the time of writing. The market cap of the largest digital coin dropped below $100B watermark for the first time in more than a year. BTC/USD is down over 10% on a day-on-day basis.

Potential reasons for Bitcoin crash

This development can potentially lead to a more extended sell-off, according to Naeem Aslam, a chief market analyst at Think Markets U.K.

“After the recent attempt to clear $6,500 bitcoin has lost all its momentum and now we are seeing some very bearish signals,” he said.

Ripple's XRP and Ethereum are fighting for the second place in the cryptocurrency rating. Currently, Ethereum's market cap is registered at $18.5, though Ripple is a close runner-up with $18.2B. The coins have lost 13% and 11% of their respective value in recent 24 hours.

The sell-off is gathering pace as ETH/USD is down 3.3% since the beginning of Thursday, trading at $176.66 at the time of writing; XRP/USD has lost nearly 6% to $0.4477.
Other altcoins are in the same wrecked conditions with Bitcoin Cash losing nearly 20% since this time on Wednesday. BCH/USD is the worst performer of the day, changing hands ar $421 at the time of writing.

Bitcoin Cash is having a hard fork today, which is going to be a messy event.

Bittensor extends recovery despite retail demand slump

Bittensor, a leading Artificial Intelligence token, is aging up above $190 at the time of writing on Wednesday. Steady price increases characterise the broader crypto market, with Bitcoin holding above $71,000 and Ethereum above $2,000.

XRP rises as ETF inflows persist, but low retail demand may limit recovery

Ripple is gaining upside momentum, trading above $1.40 at the time of writing on Wednesday. The remittance token is rising in tandem with major crypto assets, including Bitcoin, which has crossed above the pivotal $70,000 level, and Ethereum, which is holding above $2,000.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid mixed ETF flows

The cryptocurrency market is showing subtle recovery signs despite heightened global uncertainty following the United States (US) and Israel attacks on Iran and the subsequent retaliations that have morphed into a wider Middle East war.

Renewed ETF inflows send BTC above $71,000, offsetting war uncertainty

Bitcoin price rises by 5%, near the upper boundary of the recent consolidation range. US-listed spot ETFs recorded an inflow of $225 million on Tuesday, marking the second consecutive day of positive flows this week.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.