The crypto market experienced a significant sell-off today,
with Bitcoin (BTC) dropping notably below $94,000. Along with BTC, major
altcoin prices are also declining, and the total cryptocurrency market
capitalization has fallen to $3.3T, marking the lowest level in almost a month.
This sell-off stems from last week’s Federal Reserve’s (Fed’s)
monetary policy announcement, with
Bitcoin falling below $100,000. Market participants witnessed a sharp decline
across cryptocurrencies, triggering substantial liquidations and affecting the
total market capitalization.
Let’s check together, why is crypto down today and what are
the technical price predictions for Bitcoin, Ethereum, Ripple and XRP.
The cryptocurrency market has had a challenging period over
the past day and week. Both Bitcoin and major altcoins, including Ethereum,
XRP, and Dogecoin, have experienced significant losses. During Monday’s
session, Bitcoin’s price briefly dipped below $94,000. While it has since
recovered somewhat to $95,800, it still shows an 8.5% decline over the past
week.
Ethereum has seen even steeper losses, dropping nearly 16%
during the same period, with its current price hovering around $3,300. XRP has
declined by 8% and now trades at $2.20. Meanwhile, the meme-inspired Dogecoin,
which ranks as the seventh-largest cryptocurrency by market capitalization, has
shed 21% of its value, currently trading at $0.31.
Major…
