⚠️◀️Why are cryptocurrencies collapsing today? The price of Ripple has dropped to less than $3,🔻 and Bitcoin and Ethereum are nearing🔻 danger levels.⚠️📉
◀️The global cryptocurrency market has seen a slight decline over the past 24 hours, 🔻with its total market value dropping to $3.82 trillion,🔻 a decrease of approximately 1.03%🔻. Bitcoin, the largest cryptocurrency in the world, is trading at around $113,602,🔻 down 1.15% in the last 24 hours🔻. Ethereum has also faced selling pressure, dropping 1.43% to $4,156🔻. However, Ethereum is still up over 10% over the past week.📈🔻
◀️This decline comes as traders have reduced their risk exposure🔻 ahead of Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium on August 23🔻. Blockchain data revealed that nearly 12,000 Bitcoins were transferred to trading platforms🔻, indicating profit-taking nearing historical highs🔻. Large flows of Bitcoin to trading platforms are often seen as a signal that whales are ready to sell.📈🔻
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