The cryptocurrency market witnessed a sharp downturn today, with Bitcoin, Ethereum, and several major altcoins facing heavy selling pressure. Bitcoin slipped below the $120,000 mark, while Ethereum dropped under $3,200, as global investors pulled back from riskier assets.
Analysts attribute the sudden sell-off to a combination of factors — escalating geopolitical tensions in the Middle East, rising U.S. Treasury yields, and renewed regulatory crackdowns in key markets. These macroeconomic headwinds have sparked caution among traders, leading to widespread liquidations across exchanges.
In addition, profit-taking after recent rallies contributed to the decline, as investors locked in gains from the market’s strong performance earlier this month. The broader crypto market capitalization fell by more than 4% in 24 hours, erasing billions in value.
Market experts warn that volatility may persist in the short term as investors await fresh guidance from the U.S. Federal Reserve and further clarity on global policy developments. Despite the current downturn, long-term bullish sentiment remains intact, with institutional interest and blockchain adoption continuing to grow steadily.
As uncertainty grips global markets, traders are advised to stay cautious, maintain proper risk management, and keep an eye on macroeconomic indicators that could influence crypto prices in the days ahead.
