Crypto On Sept. 28: Bitcoin, Ether Crash After Sell-Off

The crypto market crashed by significant numbers Wednesday as the majority of cryptocurrencies initiated the day in red.

Bitcoin failed to retain $19,000 and dropped to the $18,000 price level, while Ether (ETH) lost the $1,300 price zone and is currently retesting $12,000.

The leading cryptocurrencies, Bitcoin and Ether, were down 6.85% and 7.18% in the last 24 hours, respectively, although BTC broke above the $20,000 price region Tuesday.

As of 12.00 a.m. ET, BTC and ETH tokens were priced at $18,745 and $1,286, respectively, according to data from CoinMarketCap.

The trading volume of BTC jumped 16.66% in the last 24 hours, while that of ETH surged 4.90%, confirming that there's an increase in the selling volume of the leading cryptocurrencies.

Data from Alternative.me showed that the crypto market sentiment was "extreme fear" and that the value on the Fear and Greed Index was 20.

Moreover, BTC dropped 1.43%, while ETH's price was down 3.89% in the last seven days.

Every other crypto coin in the top 10 was bearish with Solana (SOL) down 7.01% to $32.35, Binance Coin (BNB) down 4.78% to $270.03, Cardano (ADA) down 6.17% to $0.4303, Dogecoin (DOGE) down 5% to $0.05931 and Ripple (XRP) down 10.72% to $0.4256.

The top losers in the crypto market were Algorand (ALGO), which was down 8.75% to $0.3399; Cosmos (ATOM), which slipped 8.86% to $13.01; Terra Classic (LUNC), which was down 11.36% to $0.0002686 and Lido DAO (LIDO), which dropped 8.31% to $1.56.

The top gainers included Quant (QNT), which was up 11.66% to $138.96; Reserve Rights (RSR), which was up 4.86% to $0.0082; Theta Fuel (TFUEL), which was up 0.78% to $0.05515 and Polygon (POLY), which was up 5.59% to $0.2648.

Other major tokens were also bearish in the market as of 12:04 a.m. ET with Polkadot (DOT) down 7.38% to $6.26, Polygon (MATIC) down 6.70% to $0.7264 and Ethereum Classic (ETC) down 6.67% to $27.10.