HOT UPDATE – The crypto market continues to be “on fire” in the past hour
Bitcoin is trading around $93,350, down more than $1,500 from before. The lowest point of the day nearly hit $93,200.
Other major coins like Ethereum, Solana, and XRP are also plummeting in line with the general trend.
Main reasons:
1. Massive profit-taking: After a recent strong surge, many investors are selling off to secure profits.
2. Unstable sentiment: The market is overshadowed by concerns of a global recession due to the U.S. increasing trade taxes.
3. The “Fear & Greed” index has plummeted: Currently at 17 – indicating that anxiety is overwhelming the entire crypto community.
In summary: In the past hour, there have been no clear signs of recovery in crypto. Investors need to closely monitor to avoid being swept away by the sell-off wave.
