Crypto Market Chaos: $2 Trillion Wiped Out, Bitcoin and Ether Plunge

Technology
C
CNBC Awaaz•06-02-2026, 07:22
Crypto Market Chaos: $2 Trillion Wiped Out, Bitcoin and Ether Plunge
- •The global crypto market has lost approximately $2 trillion in value since October 2025, with $800 billion (₹72 lakh crore) lost in the last month alone.
- •Bitcoin fell to $63,295.74, its lowest since October 2025, with $1 billion in positions liquidated in 24 hours; Ether also dropped over 13% to $1,854.
- •The decline is attributed to large-scale liquidation of leveraged positions, weak sentiment from volatility in gold and silver, and a close link to tech stock performance.
- •Concerns about a hawkish Fed under potential chair Kevin Warsh and continuous heavy withdrawals from crypto ETFs by institutional investors are fueling panic.
- •Experts advise investors to re-evaluate portfolio weight, avoid leveraged trading, and focus on risk management, as further decline and prolonged instability are possible.
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