Ms lovely786
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The market is experiencing a significant downturn today, largely driven by two major factors:
1. **Mt. Gox Repayments:** The defunct exchange Mt. Gox is finally beginning its process of repaying billions of dollars in Bitcoin (BTC) and Bitcoin Cash (BCH) to its creditors. This has created fear of a massive sell-off as these recipients may quickly cash out.
2. **U.S. Macroeconomic Concerns:** Strong U.S. jobs data from last Friday has led investors to believe the Federal Reserve may keep interest rates higher for longer, reducing risk appetite for assets like crypto.
**Key Losses (Last 24 Hours):**
* **Bitcoin (BTC):** ~**-3.5%** (Trading around **$67,000**, down from ~$69,500)
* **Ethereum (ETH):** ~**-4.5%** (Trading around **$3,500**)
* **Overall Market (Total Cap):** Down over **-4%**
This has triggered widespread losses across altcoins, with many down 5-10% or more.
**Please note:** Crypto prices are extremely volatile and change by the minute. Always check a live price tracker for the most current information.
The market is experiencing a significant downturn today, largely driven by two major factors:
1. **Mt. Gox Repayments:** The defunct exchange Mt. Gox is finally beginning its process of repaying billions of dollars in Bitcoin (BTC) and Bitcoin Cash (BCH) to its creditors. This has created fear of a massive sell-off as these recipients may quickly cash out.
2. **U.S. Macroeconomic Concerns:** Strong U.S. jobs data from last Friday has led investors to believe the Federal Reserve may keep interest rates higher for longer, reducing risk appetite for assets like crypto.
**Key Losses (Last 24 Hours):**
* **Bitcoin (BTC):** ~**-3.5%** (Trading around **$67,000**, down from ~$69,500)
* **Ethereum (ETH):** ~**-4.5%** (Trading around **$3,500**)
* **Overall Market (Total Cap):** Down over **-4%**
This has triggered widespread losses across altcoins, with many down 5-10% or more.
**Please note:** Crypto prices are extremely volatile and change by the minute. Always check a live price tracker for the most current information.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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