Bitcoin slips again. 3 reasons why the crypto market is down
The crypto market is facing yet another slump, falling 1.06% in the past 24 hours, in line with the cautious mood seen in global markets. Investors seem to be pulling back amid concerns over ETF outflows, volatility in BNB-linked meme coins, and suspected wash trading in crypto derivatives.
Bitcoin, the world’s largest cryptocurrency, dropped by 0.64%, over the past day, trading at around $121,186 at the time of writing. This decline has pulled other major altcoins lower — Ethereum fell 2.31%, XRP slipped 0.95%, Solana dropped 2.92%, and Cardano was down 0.98%.
Here’s a breakdown of the three key factors behind this week’s decline and what might come next.
INFLATION JITTERS SHAKE RATE CUT BETS
One of the biggest…
