The crypto market is crashing today, with Bitcoin and most altcoins remaining in a bear market. After rising to $82,000 in May, Bitcoin price crashed to $66,000 on Wednesday. Ethereum remains below $2,000, while the market capitalization of all tokens fell by 4.2% to $2.3 trillion. This article explores the top reasons behind the crypto crash and the surge in liquidations.

Crypto market crashing amid the ongoing AI boom

The main reason why the crypto market is going down is that investors have turned to the stock market amid the ongoing artificial intelligence boom in the United States.

Some crypto investors have seen the performance of the stock market and decided to move there. Besides, while Bitcoin is down for the year, top AI stocks…