The cryptocurrency market is at it again with its volatile and unpredictable nature. Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have witnessed a decline in their values of 3.76% and 3.03% respectively. The global cryptocurrency market value stands at $2.37 trillion, showing a decrease of 4.28% in the past 24 hours. The total trading volume reached $84.52 billion, which is a rise of 17.14%. This indicates a substantial trading activity going on. Presently, Bitcoin, the leading cryptocurrency, holds a market dominance of 53.42%. This article explores the causes of the current crypto market downturn, examining the interaction of various factors that have led to this abrupt and extensive drop.
Reasons Behind the Crypto Market Crash Today
Here’s a breakdown of the key reasons behind the sudden drop of the entire crypto market.
1. Geopolitical Tensions in the Middle East
The crypto market decline is occurring against the backdrop of escalating geopolitical tens
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