The crypto market is in turmoil, with its total market cap plunging by $325 billion since last Friday. Bitcoin’s price took a sharp 8% hit, dropping to the $87,000 mark. Leading altcoins like Ethereum, XRP, and Solana saw losses exceeding 12%.
So, here we take a quick look at the potential reasons that may have dampened the investors’ sentiment.
Why Is Crypto Market Falling?
A flurry of factors might have contributed to the recent crypto market collapse. A combination of liquidity issues, macroeconomic trends, and technical sell-offs appears to be behind the latest downturn.
According to The Kobeissi Letter, a leading global capital markets commentary platform, crypto markets erased $100 billion in just one hour today without any major headlines. The platform pointed out that around $150 billion in liquidations occurred in 24 hours, dragging almost all cryptocurrencies down.
Even the meme coin sector, which had been booming, saw a steep decline. Notably, CoinGlass data showed that
We współpracy z: https://coingape.com/heres-why-crypto-market-faces-325-bln-loss/
