August 1–3 Crypto Market Crash Explain

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Between August 1st and 3rd, the crypto market witnessed a sudden and sharp crash, wiping billions of dollars from the global market cap. Several factors contributed to this decline

(1) Whale Dumping: On-chain data revealed that large holders (whales) sold significant amounts of BTC and ETH, possibly to take profits or reduce exposure due to rising uncertainty.

(2)U.S. Economic Data: The release of strong U.S. job data increased fears of another interest rate hike by the Federal Reserve. Higher interest rates typically hurt risk assets like cryptocurrencies.

(3) Liquidations Cascade: As prices fell, overleveraged positions across exchanges got liquidated in large numbers, causing a domino effect and accelerating the price crash.

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