Market Mayhem: Bitcoin Sinks Below $3.4K, Ethereum Plummets to Double Digits

Bitcoin has taken a steep hit of over 11 percent on its 24-hour chart, and is trading at $3,400 as of press time.

On the week, Bitcoin is now down by around 20.5 percent; monthly losses are at a severe 47.3 percent.

Second-largest crypto by market cap Ripple is down by around 12 percent on the day, trading at almost $0.30 as of press time, according to Cointelegraph's Ripple Price Index.

Third-ranked crypto by market cap Ethereum has fared even worse, with 24-hour losses pushing 16 percent as of press time.

The top altcoin is down to double-digit value, currently trading at $84. On the week, Ethereum down by 31.4 percent; monthly losses are close to 60 percent.

Virtually all of the remaining top ten coins on CoinMarketCap are seeing deep red; Stellar and Bitcoin Cash are both down almost 18 percent, at $0.11 and $102.3 respectively; eighth largest ranked crypto Litecoin is down close to 15 percent, trading at $25.3, and EOS is the hardest hit, down almost 23 percent on the day at $1.68.

The remaining coins in the top twenty by market cap are all seeing losses of between a 8 and 22 percent range.

IOTA is down over 16 percent to trade at $0.22: Binance Coin is down just under 20 percent at $4.56, and privacy-focused alts Monero and ZCash are down 14.5 and 20 percent respectively.

Similar losses have hit Dash and Neo: with the former down 21.7 percent at $61.33, the latter 17.4 percent at $5.85.

Total market capitalization of all cryptocurrencies is atca around $107.1 billion as of press time, down around 20 percent since the start of its weekly chart, when it was close to $136 billion.