Why Cryptocurrencies Like Bitcoin, Polygon, and Terra Fell Today

The weekend started softly for cryptocurrencies. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) lost ground as the broader crypto market sold off. Bitcoin lost about $2,000 of value per token in a late Friday crash, hitting a low around $46,786, although as of 3:40 p.m. ET on Saturday, the cryptocurrency is up 0.5% over the last 24 hours to $48,632. Ethereum experienced a similar drop late Friday, hitting a low of $3,835 at one point and is currently up 0.3% in the last day to $4,031. 

DogeCoin (CRYPTO: DOGE) was down as much as 7.3% over 24 hours and is currently down 0.9%. Polygon (CRYPTO: MATIC) fell as much as 11.8% and Terra's Luna (CRYPTO: LUNA) coin fell as much as 16.2%, although they're now down 5.6% and 8.8% respectively. 

Image source: Getty Images.

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Source Fool.com