Reasons for the bloodbath in the cryptocurrency market:
It is almost certain that the Federal Open Market Committee (FOMC) will decide to cut interest rates by 0.25 percentage points for the second consecutive time. Currently, the benchmark interest rate range is between 4%-4.25%.
Funds are flooding into gold to buy the dip and serve as a safe haven instead of flowing into cryptocurrencies, which are viewed as high-risk investments. This was anticipated, and the cryptocurrency market is being swept with blood!
Wishing everyone good luck.
(Note: This article is for reference only and should not be considered investment advice, nor do we accept any responsibility related to your decisions).
