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#what happened to market suddenly .
The cryptocurrency market sometimes exhibits higher volatility compared to the Nasdaq index. On Monday, the cryptocurrency market decreased by 6.5% to reach $3.38 trillion, while the Nasdaq100 was down 2.5%. This was due to the emergence of the startup DeepSleek with its free AI. These concerns were heightened with the anticipation of this week's Fed meeting and profit-taking following crypto-related orders from President Trump.
Bitcoin fell 6.5% below $98,000 in early European trading. The price is testing its 50-day moving average again after spending 10 days above that level. If the market does not see a quick recovery and the sell-off continues, the next key support will be the $93,000 area - the lower end of the trading range of the last nine weeks and 61.8% of the rally since early November.
The cryptocurrency market sometimes exhibits higher volatility compared to the Nasdaq index. On Monday, the cryptocurrency market decreased by 6.5% to reach $3.38 trillion, while the Nasdaq100 was down 2.5%. This was due to the emergence of the startup DeepSleek with its free AI. These concerns were heightened with the anticipation of this week's Fed meeting and profit-taking following crypto-related orders from President Trump.
Bitcoin fell 6.5% below $98,000 in early European trading. The price is testing its 50-day moving average again after spending 10 days above that level. If the market does not see a quick recovery and the sell-off continues, the next key support will be the $93,000 area - the lower end of the trading range of the last nine weeks and 61.8% of the rally since early November.
#why is market falling?
In the last 24 hours, the cryptocurrency market has witnessed a damaging drop of 7.9%. Almost all the major cryptos have suffered the impact of the overall crypto market decline. Importantly, yesterday, the altcoin market sharply declined from $1.49T to $1.38T. The latest crypto trend bearish turn is seen as a consequence of the US market downfall and the strengthening of the US dollar against major currencies. Yesterday, the S&P 500 index slipped from around $5,993.96 to $5,909.02. However, experts believe that the bull trend in the crypto market remains intact
In the last 24 hours, the cryptocurrency market has witnessed a damaging drop of 7.9%. Almost all the major cryptos have suffered the impact of the overall crypto market decline. Importantly, yesterday, the altcoin market sharply declined from $1.49T to $1.38T. The latest crypto trend bearish turn is seen as a consequence of the US market downfall and the strengthening of the US dollar against major currencies. Yesterday, the S&P 500 index slipped from around $5,993.96 to $5,909.02. However, experts believe that the bull trend in the crypto market remains intact
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