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.
