The crypto market had a big drop. Bitcoin, ETH, SOL, XRP, SHIB, and others fell in value. Here's why:
- The drop started because some options expired. Then other things made it worse, like big economic issues and people feeling unsure.
- Lots of people sold their crypto, causing a drop in value of about $250 billion.
- Bitcoin's price went from $70,978 to $65,254 because of different reasons, like options expiring, big economic stuff, and charts showing weakness.
- This drop made other cryptos fall too, like Ethereum, SOL, XRP, ADA, DOGE, and SHIB.
- Some experts thought this might happen because of past patterns with Bitcoin and big events in the crypto world.
- Other factors like tensions in the Middle East and bad news from big banks made it worse.
- When the US dollar and Treasury yields went up, Bitcoin's price went down. This caused the whole crypto market to drop.
- A lot of people lost money because of this drop, with over $950 million worth of crypto being sold off.
- Some experts think this drop might not be over yet. They say there might be more big drops coming.
- The CEO of 10x Research thinks Bitcoin miners might sell a lot of Bitcoin soon, which could make the price drop even more.
- Right now, Bitcoin's price is $67,211 and ETH's price is $3,252. But they might keep dropping if things don't improve.
