Crypto Market Crash (Jan 8th, 2025): Bitcoin Price Drops to $96k
The cryptocurrency market experienced a sharp downturn today, with the global market cap shedding 6.12%, plunging to $3.36 trillion. A steep increase in trading volume, up 35.28% to $172.39 billion, reflects growing market activity despite volatility. The Fear & Greed Index dropped to 54, signaling a neutral sentiment as traders navigate uncertainty.
Key Factors Fueling the Crash
A sharp rise in U.S. Treasury yields over the past decade, coupled with macroeconomic uncertainties such as fiscal deficits and a looming debt ceiling, has driven investor unease. These factors have increased volatility across asset classes, impacting cryptocurrencies.
Bitcoin Price Today Bears the Brunt?
Bitcoin, the market leader, saw its price decline by 5.23%…
