Today's crypto market crash can be attributed to several factors. *Major Hacks* have damaged investor confidence, with the recent Bybit hack resulting in a staggering $1.4 billion loss in Ethereum ¹. Another hack on neobank Infini led to a $49.5 million loss in USDC.
*Economic Worries* are also weighing heavily on the market. Concerns over trade tariffs, inflation, and possible changes in monetary policy have created an environment where investors are moving away from riskier assets like cryptocurrencies ¹.
*Options Expiry* is another factor contributing to the market downturn. $9.5 billion in Bitcoin and Ethereum options are set to expire this Friday, which could lead to further market volatility ².
Additionally, *Political Uncertainty* is playing a role, with former US President Donald Trump's statement on import tariffs on Canada and Mexico adding to global economic uncertainties ³.
Lastly, *Market Sentiment* has shifted towards fear, with the Crypto Fear & Greed Index dropping to 29 ³. This indicates that investors are becoming increasingly cautious, leading to a decline in crypto prices.
Follow me for future updates .👍
