Why is Crypto Market Going Down Today? — TradingView News
The cryptocurrency market moved lower on Monday, with total market value falling about 2.4% to $3.15 trillion, as traders reduced risk after a recent rally and leveraged positions were forced out.
Bitcoin and Ethereum Lead the Dip
Bitcoin slipped around 2% to trade near $93,100, while Ethereum fell nearly 4% to around $3,215, according to market data.
One of the main drivers of the decline was a wave of liquidations in the derivatives market. More than $127 million worth of Bitcoin positions were liquidated in the past 24 hours, most of them long bets.
When prices dipped, leveraged traders were forced to sell, which added to the downward pressure. This kind of “leverage flush” often happens after strong rallies and can reset the market…
