Crypto Market, $100 Billion Evaporates...Bitcoin Plunges, Altcoins Collapse

▲ Cryptocurrency decline / ChatGPT generated image

Fear has spread across the market as Bitcoin (BTC) plummeted over $3,000 from its peak due to the Middle East crisis.

CryptoPotato, a specialized virtual asset media outlet, reported on the market situation on April 19 (local time). Bitcoin encountered strong resistance at the $78,400 level, subsequently falling to near $75,000. Over the weekend, the total virtual asset market capitalization evaporated by approximately $100 billion. This is a result of renewed tensions in the Middle East conflict.

The altcoin market also showed a uniform weakening. Ethereum (ETH) dropped by 3.5% in one day, with its price falling to the $2,300 level. XRP failed to break the $1.43 resistance level. Major cryptocurrencies such as Solana (SOL) and Dogecoin (DOGE) also fell across the board.

Pi Network (PI) was rejected at the $0.185 resistance. Its price plummeted by over 8%, trading below $0.175. Pi Network recently carried out an App Studio upgrade but could not overcome the market's downward pressure. Liquidity concerns are once again spreading among investors.

Aave (AAVE) plunged over 20%, falling to the $92 level. The aftermath of the KelpDAO hacking incident was significant. KelpDAO suffered an asset outflow of approximately $294 million, the largest hack to occur in 2026. Other assets, including Worldcoin (WLD), also recorded double-digit declines.

The virtual asset market is expected to continue its extreme volatility for some time. Bitcoin's ability to hold the $75,000 support level will determine its future direction. Investor sentiment will only recover once geopolitical uncertainties are resolved. Market participants are closely watching fund flows after the opening of traditional financial markets.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*