Why Is the Crypto Market Down Today? Bitcoin Drops to $82K as Traders Flee Risk Assets Amid Macro Worries
Cryptocurrency prices have experienced a sharp declune over the last few hours, with bitcoin (BTC) now being down around 3% over the last 24 hours, while major altcoins including XRP, BNB, and SOL are down between 4% and 5% over the same period.
The broader cryptocurrency market, represented by the CoinDesk 20 Index (CD20), lost around 3.3% of its value over the period. The sharp drop brings BTC’s performance down 1.7% for the week, while CD20 is down nearly 5%.
Over the last 24 hours, over $300 million worth of long positions were liquidated on centralized cryptocurrency exchanges, while $38.8 million worth of shorts were liquidated on these platforms, according to CoinGlass data.
The drop appears to be part of a wider derisking move…
