The post Why Is Crypto Market Down Today? appeared first on Coinpedia Fintech News
The crypto market is feeling the heat again, with Bitcoin, Ethereum, Dogecoin, and XRP all taking a major hit. Bitcoin has fallen by 10%, Ethereum by 15%, and XRP by 17%. The selloff is being driven by concerns over President Trump’s tariffs and growing fears of a potential recession.
Crypto analysts say Bitcoin’s price drop is due to CME gaps. Analyst Hardy pointed out that Bitcoin filled one gap today but needs to drop to $85,000 to fill another, with a bigger gap at $77,900 still open. He believes filling these gaps will pave the way for Bitcoin’s next rally. Titan of Crypto also sees a pullback before Bitcoin moves up again, which seems to be happening now.
As per The Kobeissi Letter, between 10:00 AM and 3:30 PM ET, the S&P 500 erased a whopping $1.5 trillion in market cap. Notably, the selling pressure began ahead of Trump’s ‘investment announcement.’
The investment ann
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