Why are Bitcoin and crypto prices going down today?
Bitcoin and most cryptocurrencies retreated on Tuesday as geopolitical risks intensified ahead of the upcoming Federal Reserve interest rate decision.
Bitcoin (BTC) dropped from this week’s high of $108,915 to an intraday low of $105,500. Ethereum (ETH) retreated by over 2.2%, while the total market capitalization of all cryptocurrencies declined to $3.28 trillion.
Additional data shows that crypto liquidations surged by 25% in the past 24 hours to over $359 million. Some of the top laggards were coins like SPX6900 (SPX), Immutable (IMX), Fartcoin (FARTCOIN), Pepe (PEPE), and Worldcoin (WLD).
The ongoing sell-off in the crypto industry mirrored that of the stock market, as the Dow Jones and Nasdaq 100 indices…
