WHY THE CRYPTO MARKET IS DOWN TODAY:TRADE FEARS, LIQUIDATIONS,AND TECHNICAL WEAKNESS!

The crypto market is experiencing a downturn today due to a combination of factors, including trade fears, liquidations, and technical weakness. Here's a breakdown of the key reasons :

Trade Fears: Stalled US-China trade talks have sparked global risk aversion, leading to a decline in cryptocurrency prices. The US Treasury Secretary's confirmation of stalled negotiations has further eroded investor confidence.

Liquidations: The market has seen significant liquidations, with over $683.4 million in crypto futures liquidated in the last 24 hours. Bitcoin and Ethereum led the losses with $211.21 million and $112.53 million in liquidations, respectively. This scale of liquidations exacerbates price drops and instills fear among market participants, leading to further selling pressure.

Technical Weakness: The total crypto market cap has fallen 2.60% to $3.34 trillion, fueled by the stalled trade talks and subsequent liquidations. The market cap risks falling toward $3.1 trillion after breaking below a descending parallel channel.

Other contributing factors include :

Market Sentiment: The crypto fear and greed index has plunged to a reading of 17, indicating "extreme fear" in the market. This represents the lowest level since mid-2023.

Broader Market Trends: The Nasdaq and S&P 500 indexes have also seen declines, with the Nasdaq dropping 0.07% and the S&P 500 decreasing by 0.07%. This broader market weakness has contributed to the crypto market downturn.

Specific Coin Performance: Coins like Solana, Dogecoin, and XRP have seen significant losses, with Solana dropping 7%, Dogecoin sliding 10%, and XRP falling 6.5%.#TrumpMediaBitcoinTreasury #MarketPullback #PCEMarketWatch #TradingTypes101 $BTC $ETH