Why is the Bitcoin and Altcoin Bear Market Happening?
The recent crypto crash continued this week, with Bitcoin and Ethereum plumbing below the important support levels. Bitcoin price moved to $90,000, while Ethereum moved briefly below $3,000. Altogether, the valuation of the crypto market has dived to $3.1 trillion from over $4.2 trillion earlier this month.
Crypto Crash Continues as Liquidations Jump
One of the main reasons why the crypto market crash is happening is that exchanges have continued to close loss-making positions in the past few days.
Positions worth over $817 million were liquidated in the last 24 hours, with Bitcoin leading the way with over $411 million. Ethereum positions worth $147 million were liquidated.
Liquidations in…
