Why Bitcoin, Ethereum, Solana, and Cardano Plunged Double Digits This Weekend

What happened?

The cryptocurrency market had a rude awakening on Saturday as major cryptocurrencies fell over 20% briefly. As of 1:20 p.m. ET, every cryptocurrency with a market cap over $10 billion is down over the last 24 hours, apart from so-called stablecoins that track the U.S. dollar and other fiat currencies. 

Bitcoin ( BTC -7.96% ) was the most notable move, falling as much as 25% from trading at 7:00 p.m. ET on Friday night to a low of $42,749 near 11:00 p.m. ET on as…

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