The post When Will the Crypto Market See a Reversal? appeared first on Coinpedia Fintech News
The crypto market today has entered retracement mode. This has come after the valuation of the business dropped by 3.32% to $3.76 trillion. However, the daily trading volume has surged by 3.07% to $180.36 billion. This move hints at growing activity during a short-term correction. That being said, as Bitcoin dominance climbs to 61.1%, capital appears to be rotating out of riskier altcoins.
Amidst this downturn, the Fear & Greed Index meter has bogged down to a neutral score of 57, a sign that investor sentiment hasn’t fully flipped bearish. So, let us check what led to the trek down to the south? And how soon can we expect a rebound?
Why the Market Fell: Key Drivers Behind the Decline
The following are the key factors why the crypto market is down today.
1. Whale & Miner Profit-Booking
According to CryptoQuant, Bitcoin miners offloaded ~15,000 BTC worth about $1.8B after
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