The crypto market's tanking today, with the total market cap dropping by $105 billion to $3.72 trillion. Bitcoin's down 2.7% to $115,458, and some altcoins are getting crushed.
*What's Behind the Drop?*
Few things are going on:
- *Global Economic Uncertainty*: Recession fears are spooking investors.
- *Security Risks*: Big hacks are creating FUD in the market.
- *Economic Data*: US economic data is impacting the Fed's decisions on interest rates.
- *The Fed's Next Move*: Jerome Powell's statements are influencing investor expectations.
*What's Next?*