Top 4 Reasons Why Bitcoin Price Is Down Today?

The crypto market is crashing today as fear spreads quickly among investors. After, the global crypto market cap dropped to $2.23 trillion, falling more than 4%

Similarly, Ethereum co-founder Vitalik Buterin began to sell part of his Ethereum holdings. He recently withdrew 3,500 ETH worth nearly $7 million and sold part of it.

Selling pressure increased after Bitcoin fell below the key $66,000 support level. This triggered panic and pushed long liquidations sharply higher to $433.65 million.

Altcoins See Bigger Losses

Bitcoin, the world’s largest cryptocurrency, fell nearly 5% and dropped to around $64,375. Once Bitcoin started to drop, the rest of the crypto market followed.

Altcoins suffered heavier losses than Bitcoin. Ethereum (ETH) fell 5.5% and dropped below $1,870, while Solana (SOL) dropped to $77. XRP price also fell to $1.33.

Other major altcoins like TRON (TRX), Chainlink (LINK), Cardano (ADA), and Dogecoin (Doge) recorded bigger losses, falling between 6% and 10%, showing strong selling pressure across the altcoin market.

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