Crypto market cap back under $1 trillion as bitcoin falls below $25,000


Why Is Crypto Down Today: Crypto Crash Sees Global Market Cap Drop Below $1 Trillion

Here's what occurred if you're wondering why crypto is down today as practically every single coin loses value in June 2022.

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Following a relatively optimistic finish to 2021, the crypto market had a series of collapses and catastrophes in 2022. Prices have been trending downwards this year, whether because of the Luna crypto meltdown or the number of thefts that have occurred.

The total market capitalization of cryptocurrencies has now fallen below $1 trillion. In the previous 24 hours, Bitcoin and Ethereum have lost 18 percent and 20%, respectively. Aside from stablecoins, none of the top 100 cryptocurrencies have had price increases in the recent day, and just one (LEO) in the last week. So, what caused the most recent crypto market crash?

Why is the cryptocurrency market declining in June 2022?

The fear of inflation is one of the reasons why the crypto market is down today in June 2022. While Bitcoin and cryptocurrency, in general, are sometimes regarded as inflation hedges, this is no longer the case since larger investors have joined in.

While many in the cryptocurrency field consider their investments to be distinct from traditional stock market investments, important events can still have an influence on their pricing.

As regular equities continue to fall as a result of the inflation, so has the crypto market, with these typically riskier assets being dumped as the bear market continues.

Furthermore, the multiple impending risks of additional cryptocurrency regulation, both in relation to Luna now that Luna 2.0 has started and other crypto-related initiatives, are certain to cast uncertainty in the minds of some investors.

The crypto market has also been harmed today by rumors that the Celsius network has halted withdrawals, raising concerns about a liquidity problem.

Meanwhile, due to USDD's algorithmic stablecoin identity, the Tron-backed stablecoin USDD is on the verge of depreciating, bringing parallels to the TerraUSD crash.

Of course, some people see collapses and bear markets as opportunities to buy low and sell high. SHIB holders, for example, have boasted about purchasing the drop when the Shiba Inu price increased by zero.

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