**The reason for the decline?**

The crypto market took a cautious step back as news broke late Friday that Moody’s Investors Service had downgraded the United States’ sovereign credit rating.

Moody’s officially cut the U.S. government’s long-standing “Aaa” credit rating by one notch to “Aa1” and changed its outlook from “negative” to “stable.” This marks the first time since 1919 that Moody’s has downgraded the U.S., following similar moves by S&P in 2011 and Fitch in 2023.

....

Source: Yahoo Finance