Cryptocurrencies suffered severe losses over the weekend

Cryptocurrency markets continue to lose blood. After US inflation reached its highest level in the last 40 years last week, sharp exits were seen in cryptocurrency markets along with risky markets. The exits in cryptocurrency markets, which accelerated on the last business day of last week, continued throughout the weekend. As a result of the sales that continued until the beginning of the week, the total market value fell from $ 1.21 trillion to the $ 1 trillion limit with a decrease of nearly 18 percent. Bitcoin fell below $ 25,000 The largest cryptocurrency Bitcoin (BTC) lost its balance at $ 30,000 with the start of mass sales and fell to $ 24,900 in the early hours of the day today. Losses in Bitcoin have reached 17 percent since Friday. While Bitcoin found buyers at $ 25,300 in the morning hours, it saw its lowest levels since December 2020. There were also sharp losses in the altcoin market. Ethereum's weekly loss reached 30 percent Ethereum (ETH), the largest altcoin in the markets, added much more sharply than the last downtrend. In addition to the negativity caused by the inflation figure coming in above expectations, the fact that Ethereum developers postponed the update called the "difficulty bomb" for 2 months also negatively affected the price of the largest altcoin. When this situation was interpreted as the transition to the proof-of-stake model being postponed, Ethereum sales accelerated and the cryptocurrency was seen to fall to $ 1,300. Ethereum's weekly loss reached 30 percent. The sharpest fall among the 10 largest cryptocurrencies occurred in Solana (SOL). Solana, which is in 9th place, fell to $ 28.3 after a 12 percent loss in the last 24 hours, and then brought its weekly loss to 33 percent. While BNB fell below $ 240, Cardano (ADA) fell to $ 0.45. Among other high-capital cryptocurrencies, XRP fell to the $0.32 band, and Dogecoin, which is among the altcoins that lost the most value, fell to $0.057. Weekly losses exceeded 40 percent in the altcoin market Among the 100 largest cryptocurrencies, Convex Finance (CVX), Curve DAO Token (CRV), Waves (WAVES), Fantom (FTM) and Aave (AAVE) were the altcoins that lost the most, with weekly declines of over 40 percent. LEO, which ranked 15th, separated from the market with a weekly gain of 3 percent. While it is seen that the value losses in cryptocurrency markets continued on the first day of the week, it is seen that the trading volume, which reached an average of $100 billion in the last 24 hours, continues to be dominated by sellers. In addition, Wall Street markets are pricing the risk of recession and left behind its worst week of the year due to inflation concerns. The Nasdaq stock exchange, a technology-heavy index, closed last week with a loss of 5.7 percent.