Crypto News

Market-Wide Liquidations The sudden drop in Bitcoin's price can be attributed to a phenomenon known as "market-wide liquidations." This occurs when a large number of traders are forced to sell their positions in order to cover their losses as the market moves against them. As a result, this creates a domino effect, causing prices to drop even further. Macro Pressure on Bitcoin Aside from market-wide liquidations, Bitcoin's price also faced pressure due to macroeconomic factors. The recent surge in inflation and interest rates has caused investors to seek safer assets, leading to a selloff in riskier assets like Bitcoin. This trend is likely to continue as central banks around the world begin to tighten monetary policies. Impact on Altcoins The dip in Bitcoin's price also had a ripple effect on the broader cryptocurrency market, with altcoins experiencing significant losses as well. Many altcoins are highly correlated with Bitcoin's price, so when Bit...