A sharp decline was recorded in the cryptocurrency markets on February 2. Bitcoin, the market leader, experienced a significant loss of value over the past 24 hours.
Operative Information Center-OMM reports, citing the CoinMarketCap platform, that Bitcoin has depreciated by 4.11% in the last 24 hours, falling to $75,447. This downward trend has affected the broader digital asset ecosystem, with Ethereum's price decreasing by 8.88% to settle at $2,218. Other major assets in the top five, including XRP and BNB, saw declines of 5.69% and 3.96%, respectively.
The current market volatility follows a period of record highs for the leading cryptocurrency. It should be noted that Bitcoin reached its historical peak in October last year, when its value exceeded $126,000. Financial analysts suggest that such fluctuations in the digital currency market are often driven by global macroeconomic shifts, regulatory developments, and changes in investor sentiment regarding high-risk assets. In Azerbaijan, interest in digital assets continues to grow, mirroring global trends where investors closely monitor price corrections in the decentralized finance sector.
