Crypto Crash: Why are Bitcoin and Altcoins Going Down?
Bitcoin and altcoins are declining as the recent crypto crash persists. BTC, which soared to a record high of $111,900 last week, has dropped to $107,000, its lowest level since May 25.
Most altcoins have also dropped, with some of the recent top losers like Monero, Hyperliquid, Virtuals Protocol, and Fartcoin falling by over 10% in the last 24 hours.
Futures open interest crashed by 2.2% in the last 24 hours to $156 billion, while the 24-hour liquidation stood at over $230 million.
The ongoing crypto crash coincided with the sell-off in the stock market as the Dow Jones and Nasdaq 100 fell by 245 and 100 points, respectively.
Crypto Crash Continued After FOMC Minutes
One reason why Bitcoin…
