4th September, 2024, Wyoming
The crypto market has just fallen and has stirred a lot of turmoil! The cryptocurrency market underperformed pulling BTC and ETH down to 5% of losses.
Investors grapple with fears over the US economy. The Bitcoin price fell below $26000, whilst Ethereum was unable to maintain the $1600 level. This decline is due to fluctuations in the global market. Investors fear the slowdown of the US economy can badly affect risky favourites.
Altcoins weren’t spared either. Solana (SOL), Dogecoin (DOGE) and others were not spared, as the downtrend affected most tokens in the market. Overall market capitalisations suffered a decline and investors are supposed to seek safer options.
What’s behind the crash?
The lack of seriousness has been identified as weak economic signals from the US. Currently, the market remains restless as the Fed’s next step remains unknown and so does crypto.
This is indeed a rude awakening! Reminding everything is not always up in the crypto world. But there are downs too. However, the next move could make the difference.
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