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Bitcoin has started the day posting significant losses. At press time, the largest cryptocurrency by market cap is trading at $47,688.01 (-15.3%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has fallen to $1,504.21 (-20.61%), while XRP has dropped by 24% and is now trading at $0.455.

The price of the largest cryptocurrency on the market is undergoing a major correction. While yesterday we were talking about the asset having lost around $2,000 over the last day, today the drop goes beyond $8,000. As a result, the crypto has fallen below the $50,000 level.

It must be noted that BTC is not the only asset that is suffering losses, as all the coins in the top 10 with the sole exception of the stablecoin Tether are falling.

In spite of the fact that the market cap of the reference cryptocurrency recently exceeded $1T, it has fallen back below this level.

According to CoinMarketCap’s ranking, 9 currencies on the top 10 are in red.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,432,911,011,122.

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