Bears roar in crypto markets; BTC at $20,000; ETH at $1,000

Cryptocurrency markets are witnessing a bloodbath over the last 24 hours. The global market cap is down by 7.33 per cent in the last 24 hours and is at $ 891.86 billion as of 8:00 AM IST, CoinMarketCap data showed.

Bitcoin is down by a whopping 8.38 per cent and is trading at $20,599.

Ethereum also showed major downtrend and is at $ 1,088 after sliding down 10.86 per cent.

The USDT Tether showed 0.01 per cent negative change in its value in the last 24 hours. 

Whereas the USDC stablecoins showed 0.03 per cent positive change and maintained its peg at $1.

The BNB token plummeted 7.16 per cent.

Solana tumbled by a significant 11.10 per cent.

XRP Ripple is also down. It fell by 3.41 per cent in the last 24 hours. 

The ADA token crashed 6.73 per cent.

Dogecoin slipped 6.95 per cent.

Overall, the majority of top cryptocurrency tokens slid drastically from their positions over the last 24 hours.

The global cryptocurrency market cap has crashed to $ 891 billion levels. It's worth noting that the market cap was at $3 trillion roughly seven months ago at its all-time high.

In other news, Elon Musk is still highlighting crypto headlines. The billionaire himself, Tesla, and SpaceX have been sued for $258 billion over an alleged Dogecoin 'pyramid scheme.'

Moreover, during his first Twitter all-hands, the tech entrepreneur said integrating crypto payments on Twitter would be essential. 

Because of the crypto crash, Bitcoin 'Fear and Greed' Index has dropped below 8, indicating extreme fear.

Also, Circle has launched a new stable coin pegged to the euro. The crypto is called $EUROC.