The decline in cryptocurrencies may be due to a number of reasons, including:
1. Market volatility: The market experienced extreme volatility, which led to a negative reaction from investors and a rush to sell.
2. Bitcoin price decline: A decline in the price of Bitcoin, the leading currency, can directly affect other currencies. For example, the price of Bitcoin has fallen significantly in the last few hours.
3. Economic news: The release of negative economic data or reports related to monetary policy can also affect investor sentiment. For example, statements from the Federal Reserve regarding interest rates can contribute to changing market trends.
4. Liquidation of long positions: In the markets, large liquidations of long positions may occur, leading to increased selling pressure and lower prices.
5. Regulatory uncertainty: Growing concerns about government regulation and oversight of cryptocurrencies may also cause a decline in investor confidence.
6. General trends in financial markets: At times, digital currencies are affected by the general performance of financial markets and other assets, such as stocks and bonds.
You can follow market news and analysis to further understand more details and current developments.
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