Here’s why Bitcoin, Ethereum, XRP, and other altcoins just crashed
Cryptocurrency prices retreated sharply on Tuesday, erasing some of the gains made on Monday as concerns about the bond market intensified.
Bitcoin (BTC) dropped by 4%, reaching an intraday low of $97,700. Similarly, Ethereum (ETH), Ripple (XRP), and Solana (SOL) fell by over 5%.
The decline aligned with a risk-off sentiment that extended across other financial markets, particularly in equities. The Nasdaq 100 index dropped by more than 1% to $19,635, while the S&P 500 fell by 0.50%. These indices, heavily dominated by technology companies, tend to be more sensitive to risk sentiment.
Popular tech stocks were also affected. NVIDIA shares plunged by 5.4%, wiping out over $175 billion in market value. Tesla shares…
