Top Reasons Why Crypto Market is Down Today?

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Former Member5/12/235:15 AM0 replies

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Top Reasons Why Crypto Market is Down Today?

Former Member5/12/235:15 AM0 replies

Former Member

The recent significant decline in the price of Bitcoin can be attributed to several complex factors. After the Consumer Price Index (CPI) data, the price of Bitcoin surged above $28,000. However, it was short-lived and the bears quickly took in charge of the situation. Here are a few reasons why the Bitcoin price is declining.

This might be due to the fake news circulated about the U.S. government selling 9,800 BTC, causing widespread panic and triggering a flash crash in the Bitcoin market. The market experienced another shock when the news of Jump and Jane Street’s exit from the U.S. crypto market surfaced online. Regulatory uncertainty in the United States was cited as the reason for this move by the two major market makers.

Tags: BTC, Crypto, Today, Top, Bitcoin, Jump and Jane Street, Consumer Price Index, U.S, CPI, Market

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