Why Ethereum, Bitcoin, Dogecoin, and Solana All Crashed Today

Cryptocurrencies dropped across the market early Friday morning as the world grapples with news of another COVID-19 variant. Stock markets fell in premarket trading, but cryptocurrencies, which trade 24 hours per day, started dropping shortly after midnight ET. 

Bitcoin (CRYPTO: BTC) has been sliding for nearly a month, but that trend accelerated early Friday. The value of the largest cryptocurrency is down 7% in the past 24 hours as of 9 a.m. ET and has fallen about 21% since reaching nearly $69,000 early in November.

Smaller cryptocurrencies fell even harder in the past 24 hours, with Ethereum (CRYPTO: ETH) down 9%, Dogecoin (CRYPTO: DOGE) dropping 8%, and Solana (CRYPTO: SOL) falling 8.3%.

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Source Fool.com