Why is the crypto market down today?
The cryptocurrency market faced a sharp downturn in early trading hours today, with Bitcoin (BTC) retreating toward the $101,000 level and dragging the broader digital asset sector into the red. At the heart of the sell-off lies a combination of political controversy, macroeconomic uncertainty, and a wave of liquidations across leveraged positions.
According to data from CoinGlass, over $308 million in crypto long positions were liquidated within the past 24 hours, marking one of the steepest liquidation events since April.
Bitcoin accounted for approximately $91 million of that figure, followed by Ethereum (ETH) with about $78 million in liquidations.
Trump vs. Musk Adds Fuel to the Fire
Market sentiment took a blow…
