Brutal day for cryptocurrencies as market sheds $25 billion

Digital currencies plunged Thursday in a market selloff that showed little sign of abating.

The No. 1 digital currency, bitcoin BTCUSD, -4.26% fell below $7,500 and is trading on its intrasession low, down 9.3% at $7,200.46.

Other digital currencies didn’t fear much better, with many losing more than 10%.

Ether dipped below $400 and was last traded at $398.47, down 11.2%, Bitcoin cash fell 14.7% to $732.94, Litecoin lost 11.2% to $116.97 and Ripple was down 7.6% to 53 cents.

The total value of all cryptocurrencies fell below $300 billion overnight to a 4-month low of $273 billion, according to CoinMarketCap.

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