Why are crypto markets falling? Explained
Crypto markets dipped again on Friday morning. Leveraged positions worth $1.2 billion were wiped out due to the crash. Why are cryptocurrencies crashing?
Illia Otychenko, lead analyst at the CEX.IO exchange, told DL News that Bitcoin’s latest drop is driven by macro stress. He said that the US government’s shutdown, global trade tensions, and the outflow from Bitcoin ETFs have created what he called a “risk-off” environment.
Dom Harz, co-founder of the BOB blockchain, said that there is a strong conviction that Bitcoin is a utility asset and not just a store of value.
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