WHY IS THE CRYPTO MARKET DOWN TODAY?

The crypto market is experiencing a downturn today, with the global market cap slipping by 4.32% to $3.25 trillion. Several factors are contributing to this decline :

Geopolitical Tensions: A sudden escalation in Middle East tensions, particularly Israel's reported airstrike on Iran's nuclear facilities, has spooked global investors, sending them rushing toward safer assets like gold.

Macroeconomic Concerns: The US CPI rose to 2.4%, which, although below market expectations of 2.5%, has still had a negative impact on digital currencies, contributing to a decline in market confidence.

Market Sentiment: Investors are exercising caution due to uncertainty about regulations and global economic signals, leading to profit-taking and selling pressure.

- Technical Pressures: Bitcoin's failure to secure key support levels, such as $110,000, has led to downward pressure, with potential further declines testing $108,000 and $106,265.

Some of the affected cryptocurrencies include :

-Bitcoin (BTC): Down 3.13% in the last 24 hours, trading at $104,330, with a market cap of $2.07 trillion.

Ethereum (ETH): Fell 9.19% in the last 24 hours, trading at $2,506.35, with a market cap of $302.57 billion.

Solana (SOL): Dropped 9.76% in the last 24 hours, trading at $144.25, with a market cap of $75.84 billion.

XRP: Down 5.49% in the last 24 hours, trading at $2.12, with a market cap of $124.89 billion.#CardanoDebate #IsraelIranConflict #StrategyBTCPurchase $BTC $ETH