Crypto Market Tumbles: Bitcoin Dips Below $79K as Crypto Cap Falls

Crypto market turmoil continued overnight as Bitcoin slipped below $79,000 multiple times in Asian trading hours. The world's leading cryptocurrency eventually settled at $78,814.34, down 1.2% on the day and up 0.6% over the past week.

The price drop had a ripple effect, causing the total crypto market cap to fall by 0.7% to $2.76 trillion. Ethereum also felt the pressure, trading at $2,482.75, down 1.0% in 24 hours and up 0.8% over seven days.

A significant development came from Cronos validators, who successfully rolled back a compromised state, recovering around $111 million of the stolen $120.4M funds in a recent exploit.