The cryptocurrency market is in turmoil as Bitcoin drops to $113,000, Ethereum falls below $4,300, and major altcoins are all in a downtrend. What is causing this sell-off?

The Collapse of the Cryptocurrency Market Today: Widespread Sell-off

The cryptocurrency market has entered another severe correction, with most major coins deep in the red. Bitcoin's drop below $114,000 has caused panic among investors, while Ethereum and leading altcoins are facing double-digit weekly declines. High trading volumes indicate liquidation pressure remains significant, reflecting a fragile market environment.

Total cryptocurrency market capitalization in USD - TradingView

Today's Cryptocurrency Prices: Latest Price Overview

Based on the latest market data (see the chart):

Bitcoin ($BTC): $113,587, down 1.72% daily and -5.59% weekly

Ethereum ($ETH): $4,212, down 1.98% daily and -10.20% weekly

XRP: $2.89, down 4.10% daily and nearly -12% weekly

BNB: $831, down 1.60% daily

Solana ($SOL): $180.96, down 10.07% weekly

Cardano ($ADA): $0.85, down 8.38% daily and continuing to slide

Stablecoins like $USDT and $USDC remain stable near $1, but high trading volumes indicate capital is shifting from risk assets to safe havens.

What Caused the Collapse of the Cryptocurrency Market?

The market downturn occurs against a backdrop of a combination of general economic pressure and specific pressures from the cryptocurrency market:

General economy: Inflation in the EU remains stable at 2%, causing central banks to be cautious about cutting interest rates. Global risk appetite is weakening, heavily impacting major markets.

Technical sell-off: After a recent new high, major coins are facing significant profit-taking.

Liquidity crisis: Over-leveraged traders are facing liquidation, triggering a wave of sell-offs across multiple tokens.

Predictions for the Cryptocurrency Market: What Will Happen Next with Cryptocurrency?

The market remains fragile as Bitcoin attempts to stabilize above $113,000. If the sell-off deepens, key price levels to watch are $110,000 for BTC, $4,000 for ETH, and $0.80 for ADA. A recovery may occur if buyers step in at these support levels, but market sentiment remains very fragile.

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