$BTC The cryptocurrency market is experiencing a downturn today due to several factors. Here are some key reasons.

- *Stalled US-China Trade Talks*: Renewed fears over stalled US-China trade negotiations have dampened investor sentiment, triggering a risk-off mode in the market. US Treasury Secretary Scott Bessent's confirmation of stalled talks has contributed to the decline.

- *Significant Long Liquidations*: Over $683.4 million in crypto futures has been liquidated, with $617.85 million in longs reinforcing the intensity of the selling pressure. Bitcoin and Ether led the losses with $211.21 million and $112.53 million in liquidations, respectively.

- *Weak Technical Structure*: The crypto market's ongoing decline is occurring after breaking below multi-week support at around the $3.35 trillion level. The relative strength index (RSI) has dropped to 52, suggesting increasing downward pressure.