The cryptocurrency market is in full panic today. Bitcoin is losing around 4.5 percent, dropping to about 84,000 USD, while other cryptocurrencies are experiencing even larger declines, ranging from approximately 5 percent to over 16 percent. Ethereum is down more than 5 percent, and projects like ApeCoin and Dogwifhat are falling over 10 percent. The wave of sell-offs is triggering a cascade of liquidations, creating massive uncertainty across the markets.
Source: xStation5
Investor sentiment is plunging into extreme fear, with the Crypto Fear and Greed Index reaching a value of 11. The panic is further fueled by increasing reports of liquidations by whales, which adds to market uncertainty. Additionally, investors are reacting to growing concerns over Fed decisions regarding interest rates. Markets fear that a lack of a rate cut will maintain pressure on risky assets, including cryptocurrencies, and deepen the ongoing correction.
Source: xStation5
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