Why did crypto prices drop today?
Yesterday, the US stock market surged, hitting a new all-time high.
Consequently, many traders opened long positions on BTC and ETH, anticipating that the crypto market would follow the US stock market's upward trend.
As a result, market makers dumped the market today to liquidate these traders , over $550M in positions were liquidated.#btc$BTC
Yesterday, the US stock market surged, hitting a new all-time high.
Consequently, many traders opened long positions on BTC and ETH, anticipating that the crypto market would follow the US stock market's upward trend.
As a result, market makers dumped the market today to liquidate these traders , over $550M in positions were liquidated.#btc$BTC