The post Top Reasons Why Crypto Market is Down Today? appeared first on Coinpedia Fintech News
The recent significant decline in the price of Bitcoin can be attributed to several complex factors. After the Consumer Price Index (CPI) data, the price of Bitcoin surged above $28,000. However, it was short-lived and the bears quickly took in charge of the situation. Here are a few reasons why the Bitcoin price is declining.
Fake news and shockers
Despite some positive news on May 10, including a continued drop in CPI, which caused the price of Bitcoin to briefly surge, things quickly took a turn for the worse. This might be due to the fake news circulated about the U.S. government selling 9,800 BTC, causing widespread panic and triggering a flash crash in the Bitcoin market.
The market experienced another shock when the news of Jump and Jane Street’s exit from the U.S. crypto market surfaced online. Regulatory uncertainty in the United States was cited as the reason for this move by th
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