Here’s Why Crypto Markets Are Down Today
- Major cryptocurrencies experienced significant losses with Ethereum dropping 7.5%, Bitcoin falling 5%, and Solana declining 7.2% in response to stronger-than-expected US economic indicators.
- The market downturn triggered widespread liquidations totalling US$542.1 million, with Ethereum leading at US$117 million, compared to Bitcoin’s US$99 million in forced sales.
- Analysts view this correction as a potential buying opportunity while emphasising the importance of emotional control during market dips.
Bitcoin has dropped 5% over the past day, with most of the crypto market in the red. While the largest crypto by market cap had the biggest drop in dollar terms – falling from US$102,425 (AU$164,231) to…
