Crypto market downturn over the last 12 hours:
• 📉 Strong U.S. Economic Data
Recent data shows stronger-than-expected U.S. manufacturing activity, signaling economic resilience.
• 💵 Reduced Fed Rate Cut Expectations
The Federal Reserve is now expected to delay interest rate cuts, which reduces liquidity in markets.
• 📈 Stronger U.S. Dollar & Higher Yields
A stronger dollar and rising bond yields make risk assets like crypto less attractive.
• 🏦 Flight to Safety
Investors are rotating out of volatile assets (like crypto) and into more stable assets such as U.S. Treasuries.
• 🔻 Technical Selling Pressure
As BTC and ETH approached key resistance levels, automated and algorithmic traders triggered sell-offs.