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Crypto

Crypto Market Loses $24B as Chip Sell-Off Spills into Cryptocurrencies

Guavy AI Editorial Team
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BTC ETH SOL XRP
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The crypto market experienced a significant downturn on July 28, losing nearly $24 billion in value. Bitcoin slipped below $64,000, amid a global semiconductor sell-off that triggered a broader retreat from risk assets.

The chip rout accelerated the decline, but crypto markets had already been showing signs of weakness after several sessions of spot Bitcoin ETF outflows ahead of this week's Federal Reserve meeting.

Ethereum declined almost 1% to around $1,883, while XRP and Solana fell 1.30% and 1.77%, respectively.

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