Crypto Market Plunges: Ether Experiences Steepest Drop in Years Amid $80 Billion Crypto Selloff

Crypto Market Plunges Accelerates as Ether Faces Significant Drop

The crypto market selloff on Monday cost investors $80 billion, as the market valuation dropped from $2.1 trillion to $2.05 trillion. Amid yet another attempt on Republican presidential nominee Donald Trump’s life at his Florida golf club on Sunday, the prices of Bitcoin and Ethereum experienced a sharp decline. Ether, in particular, has suffered the steepest drop it has experienced in a long time.

Ali Martinez Warns of Further Ethereum Price Drops if Support Levels Fail

Following an eight-year hiatus and the sale of its Ethereum assets, a dormant “diamond hand” whale has resurfaced. Some whales have also become pessimistic following the recent sale of Ethereum by Vitalik Buterin and the Ethereum Foundation. If ETH price breaks through the crucial support level between $2,290 and $2,360, well-known expert Ali Martinez warned that additional price declines are possible. The price may move toward $1,800 if there is a break below this demand zone, he continued.

After falling 4.29 percent over the previous day, the price of ETH is now trading at $2,302. There is a $2,253 low and a $2,418 high for the past 24 hours. For additional direction indications, the market will pay complete attention to the FOMC meeting.

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