$SOL

Why Is the Crypto Market Falling Today?

The cryptocurrency market has seen a significant drop in the last 24 hours, and multiple factors are contributing to the decline. Firstly, the U.S. SEC delayed its decision on spot Ethereum ETF applications, which created uncertainty and shook investor confidence. Many traders were expecting approvals soon, and the delay is being seen as a negative sign for institutional involvement.

Secondly, Bitcoin failed to break through the $65,000 resistance level. As a result, large investors (whales) began to take profits, triggering a wave of stop-loss orders and long liquidations. This led to over $500 million in long positions being wiped out in a short time.

Third, the upcoming U.S. Federal Reserve interest rate decision has caused market makers to pull liquidity from risk assets like #cryptocurrencies This lack of depth in the market has amplified price movements, even with moderate selling pressure.

Finally, on-chain activity on major networks like Ethereum and Solana has declined. Fewer active addresses and lower fee generation point to reduced demand, which weakens the bullish momentum further.