Crypto Markets Shed $80B Daily as BTC Dives Below $74K: Market Watch

ETH and XRP posted even more substantial losses on Monday morning. Bitcoin’s Monday kicked off with a bang in an unwanted direction, with the asset tumbling below $74,000 for the first time since the breakout rally in mid-August. The altcoins followed suit, and some posted even more profound losses, such as ETH and XRP. The total crypto market cap tanked below $2.5 trillion. BTC Slides Below $74K October ended in the red for the leading cryptocurrency, proving the ‘Uptober’ narrative wrong again. The asset dropped by over 7%, and a major portion of those losses came at the end of the month following the massive exploit against Binance. The new month started with more volatility ahead of and after the US midterm elections last Tuesday. Bitcoin dropped to $75,600 after the Democratic sweep but skyrocketed to $81,000 hours later as the uncertainty supposedly disappeared. However, it quickly returned on Thursday afternoon when BTC, alongside Wall Street and most major financial markets, crashed again. This time, bitcoin dumped even harder, dipping below $75,000 on Friday. After spending the weekend trading sideways between $75,500 and $76,000, the bears resumed control on Monday mornin...