$BTC The crypto market is dumping on June 18, 2024, for several reasons:

- Malaysian authorities cracking down on crypto investors to avoid tax

- The U.S. Securities and Exchange Commission (SEC) vs. Ripple case

- Stronger than expected U.S. jobs data

- Increase in unemployment rate

- Odds of a rate cut by the Federal Reserve lowered

- Risk-off mode among investors

- Over $380 million in liquidations of long positions versus short ones

- Bearish divergence from the RSI

- Economic and regulatory uncertainty

- High inflation rates in the U.S. and the U.K.

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