#TrumpVsMusk
Today Why is the crypto market down?
Bitcoin Slips Toward $101,000: Bitcoin (BTC) experienced a sharp drop in early trading today, falling toward the $101,000 mark and triggering a widespread sell-off across the crypto market.
Mass Liquidations: More than $308 million in long positions were liquidated in the past 24 hours, according to CoinGlass data—one of the largest wipeouts since April.
BTC and ETH Lead the Losses: Bitcoin and Ethereum (ETH) were the hardest hit, accounting for approximately $91 million and $78 million in liquidations, respectively.
Market Jitters Ahead of Key Events: Heightened volatility is likely to continue as investors brace for next week’s Consumer Price Index (CPI) report and the Federal Open Market Committee (FOMC) meeting.
Overview
The cryptocurrency market took a significant hit today as Bitcoin plunged toward the $101,000 level, setting off a chain reaction that pushed most digital assets into the red. The downturn appears to be driven by a mix of political tensions, growing macroeconomic uncertainty, and a cascade of forced liquidations in leveraged positions.
With major economic events on the horizon, including U.S. inflation data and a key interest rate decision, traders are expected to remain cautious amid heightened volatility.
