Overall decline?!
The cryptocurrency market witnessed a collective decline in prices this evening, including a slight decrease in Bitcoin's value, following a strong two-day rally.
The reasons for this decline are due to several intertwined factors.
Concerns over decisions by the U.S. Federal Reserve: The Federal Reserve kept interest rates steady at 4.25%–4.5% on May 7, raising caution among investors regarding the impact of this policy on high-risk assets such as cryptocurrencies.
Concerns about cryptocurrency-related legislation and regulations continue to affect investor confidence, especially after reports of delays in approvals for ETF funds linked to digital currencies.
Regulatory uncertainty in the United States: Political tensions surrounding the stablecoin regulation bill, especially after the Trump family launched a new stablecoin, have increased concerns about the future of regulations in this sector.
Decline in performance of major companies in the market: Coinbase announced lower-than-expected earnings for the first quarter of 2025, negatively impacting investor confidence in the market.
The decline in liquidity in the altcoin market has significantly decreased due to reduced liquidity and increased Bitcoin dominance in the market, leading to accelerated sell-offs in this asset class.
Technical analysis indicates bearish patterns in some currencies, prompting traders to sell to minimize potential losses.
Bitcoin (BTC) fell by 2.7% to approximately $101,765, after reaching a peak of $105,525 earlier today.
Ethereum (ETH) fell by 2.6% to record $2,443, after reaching $2,600 during daily trading.
Cardano (ADA) fell by 1.8% to record $0.79
Greetings to everyone.$BTC