Crypto Crash Today: Why Are XRP, Cardano, Sui, DOGE Going Down?
The recent crypto crash is ongoing, with Bitcoin and most altcoins like Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), and Sui (SUI) falling by over 5% in the last 24 hours. Combined, the market capitalization of all tokens dropped by 3.3% in the last 24 hours to $3.76 trillion.
Bitcoin and Ethereum Options Expiry
One major reason why the crypto crash is happening is that Bitcoin and Ethereum options worth over $15 billion just expired. Historically, BTC and ETH prices normally drop sharply before and shortly after this expiry happens.
Bitcoin plunged to $108,000, while Ethereum dropped to $4,337. Most altcoin prices normally drop whenever BTC and ETH are in a downward trend.
