Digital currency prices plummeted on Tuesday, as cryptocurrency markets lost billions during the morning trading sessions, New York time. BTC dropped well below the $7k range and other digital assets followed BTC’s path with sharp losses. Crypto prices haven’t been this low since May as the market valuation of the entire cryptoconomy is struggling to hold above the $175 billion range.
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Top 20 Crypto Markets Shed Billions
Crypto markets are in red on December 18, as the top 20 market caps have lost 4-15% in fiat value. On December 17, bitcoin core (BTC) dropped under the $7k range and is now hovering between the $6,400-6,600 zone. BTC lost 5.7% on Wednesday and the cryptocurrency is down over 10% for the week. Currently, BTC has a market valuation of around $117 billion which represents 67% of the entire cryptoconomy. At 8:55 a.m. EST, BTC defended the long-term $6,400 foundational support and quickly bounced back to the $6,700 range.