The two largest digital currencies in the world by market value (Bitcoin and Ethereum) are leading the losses of digital currencies, which are in the red color in the middle of the trading session today, Tuesday, November 16th, as all cryptocurrencies whose market value exceeds one billion dollars, except for two or three currencies, lose the cryptocurrency market about 8.7 % of its value, or more than 250 billion dollars, according to Coingecko, which includes more than 10,000 digital currencies.

After US President Joe Biden signed a trillion-dollar infrastructure bill on Monday, market fears rose again, as one of the laws aimed at providing financing for roads and bridges stipulates a tax on digital asset dealers by reporting any digital transactions worth more than The $10,000 to the Internal Revenue Department, which raised the markets’ fears and concern that the new tax measures would limit liquidity.

On the other hand, China renewed its regulatory campaign on the digital currency market this morning, Tuesday, as the National Development and Reform Commission stated that the country is studying the option of imposing broader sanctions on companies that participate in cryptocurrency mining.

On the other hand, the statements of Twitter’s chief financial officer, Ned Segal, who stated in an interview with the Wall Street Journal that investing in cryptocurrencies at the present time does not make sense due to the volatility in cryptocurrencies and that he prefers to invest in less volatile securities contributed to increasing the selling pressure. on digital currencies.

Bitcoin loses about 7.5% and is trading at levels of $60.835 thousand, with a loss of more than $100 billion of its market value, which is settling at $1.141.163 trillion, while Ethereum, the second largest digital currency by market value, is declining by about 9.15% and is trading at levels of $4.292 thousand, with a value of $4.292. Market value of 505 billion dollars.

The Dogecoin currency records declines of about 8%, trading at levels of $0.2415, with a decline in its market value to $31 billion, while Cardano is down by about 7.80%, trading at levels of $1.90, and a market value of about $63 billion.

Ripple, in turn, loses about 8.95% and is trading at levels of $1.10 and a market value of about $51 billion. The Solana currency is also declining by about 7.28%, trading at levels of $225, and a market value of about $68 billion.

Litecoin was one of the biggest losers during the session, down by 13%, trading at levels of $237, with a decline in the market value to $16 billion.