The image shows significant declines in the last 24 hours: BNB (-3.37%), BTC (-3.23%), ETH (-5.63%), SOL (-4.44%), PEPE (-10.98%) and WLD (-10.37%). These losses coincide with recent information indicating a change in market sentiment. According to a TradingView article from May 23, the global crypto market has decreased by 1.4% in capitalization, standing at $3.64 trillion, despite the article mentioning that the market was 'in the green' at some point during the day. This suggests that the declines you see in the image reflect recent volatility, probably a correction after a rally.
A key factor seems to be macroeconomic uncertainty. Recent news from CNBC and Bloomberg indicates that markets are reacting to Donald Trump's tariff threats, this time aimed at the European Union and Apple, which has generated nervousness in global markets. Risk assets, such as cryptocurrencies, are usually the first to fall in these scenarios as investors seek safer havens. Additionally, a Reuters article from May 22 mentions an exploit in Cetus, a decentralized exchange on the Sui blockchain, which lost over $200 million, which may have affected confidence in altcoins and contributed to declines like those of PEPE and WLD.
On the other hand, Bitcoin had reached an all-time high of $111,980 on May 22, according to Bloomberg, but the image shows that it has retraced to $107,735.76. This indicates profit-taking by investors after the rally, a typical behavior after reaching record levels, as also observed in a previous correction on May 15, when the market fell 4.4% according to TradingView.
In summary, the market is down today probably due to a combination of profit-taking after the recent Bitcoin highs, macroeconomic uncertainty from Trump's tariff threats, and decreasing confidence due to events like the Cetus exploit. I have sought additional information to better understand why the cryptocurrency market is down today, May 23, 2025, at 8:42 PM -05. The image I share shows declines in the last 24 hours: BNB (-3.37%), BTC (-3.23%), ETH (-5.63%), SOL (-4.44%), PEPE (-10.98%) and WLD (-10.37%). Here are the latest findings:
A Reuters article from May 22 reported an exploit in Cetus, a decentralized exchange on the Sui blockchain, that resulted in losses of over $200 million. This event has likely impacted confidence in altcoins, contributing to the significant declines of tokens like PEPE and WLD, which have higher loss percentages.
Additionally, news from Yahoo Finance and The Guardian today, May 23, indicates that Donald Trump has escalated his tariff threats, now targeting the European Union with 50% starting June 1 and companies like Apple and Samsung with 25% if they do not manufacture in the U.S. This has generated a negative reaction in global markets, with Apple losing around $70 billion in market value. Risk assets like cryptocurrencies tend to fall in these scenarios as investors seek refuge in safer assets, which explains the widespread losses you see.
On the other hand, a post on X from @beincrypto_es today at 2:39 AM -05 mentions that $3.3 billion in Bitcoin and Ethereum options expire today, which could be causing short-term volatility. This, combined with the fact that Bitcoin reached an all-time high of $111,980 on May 22 (according to a post from @web3encorto), suggests that the market is experiencing a correction after the rally, with BTC now at $107,735.76 according to your image.
In summary, the current declines are due to a mix of factors: the Cetus exploit affecting confidence in altcoins, macroeconomic uncertainty from Trump's new tariff threats, volatility from the expiration of options, and a natural correction after Bitcoin's recent highs. If you need more details on any aspect, let me know in the comments.
