Key Factors Behind Today’s Crypto Market Decline

1. ETF Decision Delays Impacting XRP and Dogecoin

The U.S. Securities and Exchange Commission (SEC) has postponed decisions on the Franklin Templeton Spot XRP ETF and the Bitwise Dogecoin ETF. This delay has led to a 2.5% drop in XRP’s price, reflecting investor disappointment and uncertainty surrounding these assets. 

2. Technical Correction After Rapid Price Increases

Bitcoin’s rapid ascent from $67,000 to $100,000 within a short period left the market susceptible to a technical correction. Indicators suggest that the market was overbought, prompting profit-taking and a subsequent price pullback.  

3. Macroeconomic Concerns and Federal Reserve Policies

The Federal Reserve’s cautious approach to future rate cuts has unsettled speculative markets. Despite delivering its third consecutive rate cut, the Fed hinted at fewer reductions for 2025, leading to a reassessment by investors and a broader sell-off in risk assets, including cryptocurrencies.