This step of Elon Musk created a ruckus in the cryptocurrency market, know how much bitcoin has sunk

In the last 24 hours, the price of bitcoin has fallen by more than 7 percent and is trading at $26400. During the trading session, the price of bitcoin had also reached close to $25400.

Elon Musk's aerospace company Space X has taken such a step due to which the price of bitcoin crashed. In the last 24 hours, the price of bitcoin came down from $28000 to $25000. This is the biggest drop in bitcoin prices in the last two months. The effect of which has been seen on the rest of the world's cryptocurrencies. According to statistics, in the last 24 hours, there has been a decline of about 6 percent in the cryptocurrency market. Let us also tell you that after all, what step has Elon Musk's Space X taken, due to which there has been a furore in the cryptocurrency market.

Space X took a big step

In fact, Elon Musk's aerospace company SpaceX has sold bitcoin bought in early 2021 for about $ 373 million. According to The Wall Street Journal's August 17 report, SpaceX had 373 million worth of bitcoins on its balance sheet in 2021 and 2022, which the company has sold. During that time the price of cryptocurrency bitcoin was more than 40 thousand dollars. Bitcoin was being backed a lot by Elon Musk. Because of which the price of bitcoin had reached close to 70 thousand dollars in 2021. Since then the decline that started in it is not taking the name of stopping yet.

Bitcoin price crashed

Ever since this move of SpaceX has become headlines, there has been a big fall in the price of the world's largest cryptocurrency bitcoin. On Friday evening, the price of bitcoin is trading at $ 26400 with a fall of about 7 percent. During the trading session, the price of bitcoin had also reached close to $25400. By the way, in the last 7 days, the price of bitcoin has seen a decline of more than 10 percent. If we talk about the current year, then bitcoin has given more than 60 percent return to the investors.

Chaos in the entire cryptomarket

On the other hand, there is uproar in the entire cryptocurrency market. The world's second cryptocurrency Ethereum is trading at $ 1681 with a decline of 6 percent. There is a 5 percent decline in Binance and the price is at $ 218. XRP is facing a decline of about 14 percent. There is a decline of about 4 percent in Cardano. There is a 6 percent decline in the price of Dodgecoin. Polkadot and Polygon both have a decline of more than 5 percent.