The crypto market has taken another hit in the past 24 hours — and it’s not just due to overall economic trends. Several specific events are behind this latest decline:
1. Ethereum ETF Decision Delayed
The U.S. SEC has postponed its decision on multiple spot Ethereum ETF applications. Many investors were expecting approvals soon, so the delay shook confidence — especially among big players hoping for more institutional involvement.
2. Big Sellers (Whales) Cashing Out
Bitcoin couldn’t break past the $95,000 resistance level. That led to major holders (whales) selling off their positions for profit. This selling caused a wave of stop-loss triggers and over $500 million worth of long positions to get liquidated within 12 hours.
3. Lower Liquidity Before Fed Announcement
As the Federal Reserve prepares to announce its next interest rate decision, market makers are pulling back liquidity from riskier assets like crypto. With fewer buyers and sellers in the market, even small sell-offs are causing big price drops.
4. On-Chain Activity Slowing Down
Usage on blockchains like Ethereum and Solana has dipped, with fewer active addresses and lower fees being generated — showing a decline in actual demand and user activity.
Bottom Line:
With regulatory delays, technical resistance, and weak user activity, the market is on shaky ground. Until there’s more clarity from U.S. regulators and the Fed, we’re likely to see more ups and downs.
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