Why is Crypto Down Today? Here’s What Happened

TLDR

  • Bitcoin consolidates near $118,000 after hitting record highs around $123,200 earlier this month
  • Over $968 million in liquidations hit the market, mostly from leveraged long positions on altcoins
  • Ethereum ETF inflows reached record $2.2 billion last week while Bitcoin funds stagnated
  • Major altcoins including XRP, Solana, and DOGE dropped 5-8% in 24 hours
  • Total crypto market cap declined 1.4% to $3.88 trillion as derivatives market saw 11% drop

The cryptocurrency market experienced a pullback today as traders took profits following recent strong rallies across major digital assets. Bitcoin currently trades at $118,120, showing minimal movement in the past 24 hours after consolidating from record highs.

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Bitcoin (BTC)…

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