According to Crypto Rover, over $110 billion has been wiped out from the cryptocurrency market in the past 24 hours, indicating significant market volatility.
Traders should be cautious of potential further downturns and consider risk management strategies.
The loss suggests a substantial decline in investor confidence, impacting major cryptocurrencies and potentially altering market dynamics.
In a dramatic turn of events, over $110 billion was wiped out from the cryptocurrency market within the last 24 hours ending at 12:00 PM UTC on February 24, 2025.
This significant market correction was reported by Crypto Rover on X (formerly Twitter) (Crypto Rover, 2025).
Bitcoin (BTC), the leading cryptocurrency, saw a sharp decline of 9.2% from its peak of $68,300 at 10:00 AM UTC on February 23, 2025, to a low of $62,000 at 11:45 AM UTC on February 24, 2025 (CoinMarketCap, 2025).
Ethereum (ETH) experienced a similar drop, falling 8.5% from $3,800 to $3,475 over the same period (CoinGecko, 2025).
The trading implications of this market correction are significant for both short-term and long-term traders. The sharp decline in Bitcoin’s price led to over $1.3 billion in liquidations across various exchanges, with the majority occurring between 11:00 AM and 12:00 PM UTC on February 24, 2025 (Coinglass, 2025).
