Today, the cryptocurrency market witnessed a sharp decline due to several intertwined factors:
1. Global economic data: The announcement of weak economic data in the United States negatively affected the markets, prompting investors to avoid high-risk assets such as cryptocurrencies【6】【8】.
2. Price correction: Markets are witnessing corrections after previous rises, as investors make decisions to secure profits and exit the market at certain points【6】.
3. Geopolitical turmoil: These turmoils have reduced risk appetite, which has been reflected in the decline in prices of many assets, including cryptocurrencies【9】.
4. Fluctuations in liquidity: Increased pressures in automated liquidation operations in the markets, especially in Bitcoin futures, have pushed prices to a rapid decline【6】【7】.
Bitcoin fell to lower levels than expected, while alternative currencies such as Ethereum and Binance Coin were similarly affected. It is advisable to monitor the market carefully and avoid emotional decisions at such times.