Cryptocurrencies lose $300 billion in market value this week.

Cryptocurrencies have declined by $300 billion in market value this week due to pressures from a wave of leveraged bets, negatively impacting prices and pushing investor sentiment to its lowest levels since the beginning of summer.
Ethereum, the second-largest cryptocurrency in the world, led this decline, recording its largest weekly drop since June at around 12%. Bitcoin also fell by approximately 5%, marking its biggest decrease since March.
In Friday’s session, Bitcoin dropped by 0.40% to $109,154 at 10:53 PM Mecca time, while Ethereum rose by 2.40% and Ripple by 0.35%.
In this context, Ben Kurland, CEO of the cryptocurrency research platform “DYOR,” stated: “Once the first wave of selling begins, algorithms and financing pressures turn it into a vicious cycle.”
He added in remarks to Bloomberg that liquidity in the cryptocurrency world is limited, making downward movements appear like free fall, while price recoveries happen slowly.
The sell-off accelerated as investors liquidated billions of dollars in bullish bets in the cryptocurrency futures market, with some traders warning that the true extent of leverage in the system remains unclear, as most platforms do not disclose complete liquidation data.
Additionally, cryptocurrencies faced pressure this week due to the increasing likelihood of a U.S. government shutdown on October 1, following the Senate’s rejection of a temporary funding bill.