Major cryptocurrencies declined on Tuesday evening as a broader market correction liquidated over $650 million worth crypto in the last 24 hours.

CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Bitcoin BTC/USD-4.44%$62,942Ethereum ETH/USD-5.42%$3,223Dogecoin DOGE/USD-4.36%$0.12

What Happened: The price of Bitcoin plummeted below $63,000, triggering a widespread sell-off across the global crypto market. 

In just 24 hours, the market capitalization dropped by 8% to reach $2.4 trillion, as reported by CoinMarketCap.

BitMEX Research data revealed an outflow of over $640 million from Grayscale’s spot Bitcoin ETF GBTC on March 18, marking the largest day of outflows since its trading debut…

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