Cryptocurrency Market in Turmoil as Bitcoin and Altcoins Experience Significant Drops.
TL;DR Summary
Bitcoin drops below $25,000, while XRP and ADA extend their 24-hour declines to as much as 7.4%. Total market capitalization lost 3.8% in the past 24 hours. Traders suggest bitcoin could drop to as low as $23,500 based on price-chart analysis. ADA has fallen more than 20% in the past week after being named with 12 other tokens as a security in a U.S. Securities and Exchange Commission (SEC) lawsuit against crypto exchanges Binance and Coinbase. XRP erased all gains from a surge earlier this week as markets digested the "Hinman emails" from a Ripple Labs filing on Tuesday.
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