All the listed coins are in the red, indicating a market-wide decline. Here are some possible reasons why this might be happening:
Market Correction – After a recent rally, the market might be undergoing a natural correction, where traders take profits, leading to a short-term drop.
Macroeconomic Factors – Negative news like inflation reports, interest rate hikes, or regulatory actions can cause panic selling.
FUD (Fear, Uncertainty, Doubt) – Rumors or negative sentiment in the crypto space can trigger mass sell-offs.
Bitcoin Influence – Since BTC is also slightly down (-0.23%), it might be dragging the rest of the market with it, as altcoins often follow Bitcoin’s trend.
Liquidations in Leverage Trading – If many traders had leveraged long positions, a sudden drop could trigger liquidations, leading to more downward pressure.
