The cryptocurrency market suffered a big drop today, mainly due to seven major factors.

The US employment data was better than expected, and the market was worried that the Federal Reserve might not cut interest rates as expected, which put pressure on risky assets such as cryptocurrencies.

The market turn forced investors with long positions to sell to reduce losses, exacerbating the market's downward trend.

The crypto derivatives market was forced to close positions on a large scale, and a large number of sell orders further pushed down prices.

Technical indicators showed that the market might turn bearish, and technical analysts worried that the downward trend would be established.

International tensions and uncertainty prompted investors to take risks and sell cryptocurrencies.

The rising cost of Bitcoin transactions reduced its market appeal.

The government's unclear regulatory attitude towards cryptocurrencies and legal issues made the market full of doubts. These factors together led to the decline in the cryptocurrency market. #币安合约锦标赛 #币安用户数突破2亿 #非农就业人数高于预期 #美联储降息周期