ALERT 🚨 🚨 😮 🚨 🚨 Why is the crypto market crashing, and will the bull run resume?
The crypto market continued its downward trend on Saturday, May 17, with most altcoins erasing some of their recent gains.
Bitcoin is often the main driver in the crypto market. In most cases, altcoins rally whenever the top coin is on an upward trend and fall when there’s a retreat. For example, most of them surged by double digits recently when Bitcoin broke the resistance at $90,000 and reached $105,900.
In this case, altcoins are falling because Bitcoin has failed to cross the resistance at $105,000 and retest its all-time high.
Crypto prices are also crashing because of profit-taking among investors who benefited from the recent surge. Indeed, some of the top gainers during the rally have become the top laggards.