Whyy is the market is going down?
Here’s what’s happening in the image step by step:
1. Bitcoin (BTC) & Ethereum (ETH) Prices
Bitcoin: $118,036.63 (which is extremely high compared to normal prices, likely due to data from a platform tracking in another currency or a glitch).
Ethereum: $4,563.91.
These prices give you a snapshot of the two biggest cryptos during this drop.
2. Market Cap Drop
Total market cap: $3.98 trillion, down 3.53%.
This means around $150 billion in value has been wiped from the crypto market in a short period.
3. Chart Analysis
On Aug 13, the market cap was around $4.13T.
By Aug 14, there was a big sell-off — prices of multiple coins fell simultaneously.
The red portion shows the steep decline and volatility after the drop.
4. Possible Causes of This Drop
Large holders (“whales”) selling off positions.
Negative crypto-related news (e.g., regulations, exchange issues, lawsuits).
Bitcoin or Ethereum facing sharp declines, dragging the whole market down.
Broader market fears — stock market drops, interest rate announcements, or geopolitical tensions.
In short:
This chart shows a short-term market crash where the total crypto market lost over $150B in value in less than a day, likely triggered by a combination of whale selling and market panic.
If you want, I can also check the latest crypto news to see exactly why this sudden drop happened today.
