KEY POINTS

  • Bitcoin, Ether fall again
  • Top coins back in red
  • Meme cryptos plunge too

The cryptocurrency market turned red once again Friday as all of the top ten coins were trading lower, leading the global crypto market cap to slide by 3.69% in the last 24 hours to trade at $2.18 trillion as of 3 a.m. ET.

Experts attributed the bearishness to the holiday season and the fears pulled by the new Covid-19 variant Omicron.

Bitcoin fell 3.70% in the last 24 hours to $46,975, while rival Ethereum fell over 3.8% to $3877.

Among other top coins, Binance Coin, Tether, Solana, and Cardano also slid in the last 24 hours. Avalanche, which was trading higher after Circle's launch of its stablecoin USDC on the blockchain Thursday, reversed course.

Meme cryptos Dogecoin and Shiba Inu also faced the downturn of the crypto market. While the market remained bearish, experts are still hopeful of the gains in the year ahead.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.

Bitcoin, the world's biggest cryptocurrency, hit a record-high $66,000 last month after taking another step towards mainstream status
Bitcoin, the world's biggest cryptocurrency recently hit a record-high of over $69,000. AFP / Ozan KOSE
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