#note
Cryptocurrency market in the red zone: what's happening? 📉
Today, the cryptocurrency market is showing a noticeable decline: $BTC -5.07%, $ETH -9.95%. What are the reasons for the drop?
Main factors:
🔸 Strengthening expectations of an interest rate hike by the Federal Reserve → rise of the dollar → decrease in demand for risk assets.
🔸 Correction after the rise in January – profit-taking by major players.
🔸 Decline in the stock market (Nasdaq, S&P 500), putting pressure on crypto assets.
🔸 Whale activity: transfers of large sums can cause panic.
The market remains under pressure from macroeconomic factors. This may be a temporary correction before further movements. It's important to maintain a cool head and monitor the situation's development.
