The crypto market has been declining in recent days, and there are several reasons behind this. One of the main reasons is that Bitcoin fell below $90,000, which generated uncertainty among investors. When BTC falls, it usually drags the rest of the market down with it.
Additionally, there was a large sell-off of cryptocurrencies by investors who decided to take profits after the strong increases we had in previous months. This is compounded by fears of possible regulations in the U.S. and some security issues, such as a hack on the Bybit platform, where a significant amount of funds were stolen.
Another important point is that, despite the approval of Bitcoin ETFs in the U.S., the initial enthusiasm seems to be cooling off, and many are waiting for new signals before buying strongly again.
In summary, the market is in a correction phase after a great rally, and now it remains to be seen whether it manages to stabilize or continues to decline in the coming days.
