Why is the Crypto Market Down Today?
The crypto market dropped 0.54% in the last 24 hours, adding up to a 5.3% fall this week.
šøHereās whatās going on:
Big Bitcoin Outflows:Ā Spot Bitcoin ETFs saw $812 million leaveāone of the biggest outflows ever. This put extra pressure on prices.
šøSecurity Scare:Ā
Hackers stole 127,426 BTC (worth $14.5 billion) from LuBian Mining Pool. This shook investor confidence.
šøFed Worries:Ā
The US Federal Reserve revised job data, showing the economy might be weaker than we thought. This made people more cautious.
All these factors made traders nervous and pushed the market down. Stay safe and always do your own research!
