The crypto market is in its prime, where many cryptos have achieved new highs, beating the bear’s dominance. More importantly, Bitcoin price has doubled over this period, creating an all-time high of $94,002.87 just a few hours ago. However, today, the market is hit with a sharp downturn instead of a continuous upsurge, confirming the rising volatility. Though this is a part of the industry, many broader market movements and geopolitical situations are to blame.
Why is The Crypto Market Down Today?
Despite Bitcoin hitting an all-time high, it has already moved away from that, currently trading at $93K. This has happened with the traders losing confidence, as there is a 2% drop in the trading volume, which has impacted the entire cryptocurrency market. The global market capitalization has backed down to $3.08T, with a 9% drop in global trading volume, currently at $ 180.87 billion.
Additionally, the crypto market heatmap represents all the major altcoins in red, signifying a downtrend
We współpracy z: https://coingape.com/trending/whats-driving-the-crypto-market-down-today/
