Digital currency market value drops $104 billion in a day, causing concern among investors. Bitcoin and Phantom experience significant declines.
The total value of digital currencies market plunged significantly to $3.27 trillion creating a wave of concern among investors. Bitcoin (BTC) dropped to $96,444 but still trades above the crucial support level of $95,668. Meanwhile, Phantom (FTM) recorded the highest decline among digital currencies with an 8% drop to $0.88. Analysts believe that if the downtrend continues, the total market value could decrease to $3.10 trillion. However, New Year celebrations and cautious optimism of traders can prevent the worsening of the downward trend.
