$BTC , $ETH , $SOL , DOGE and Cardano (ADA)
experienced price drops of 7%, 6.2%, 8.5%, and 8%, respectively. ๐จ๐จ
Meanwhile, XRP, the native token of Ripple Labs, appears to be moving against the market trend, showing a 1.5% upward momentum.๐จ๐จ
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You might be wondering why the crypto market is experiencing a sudden crash.
The reason lies in a sharp increase in U.S. Treasury yields over the last 10 years. Today, the Institute for Supply Management (ISM) released a report highlighting that the December Purchasing Managersโ Index (PMI) for the private sector was 54.1, higher than Novemberโs 52.1.
This data not only impacted the cryptocurrency market but also led to a sharp decline in U.S. equities due to inflation concerns. Amid this downturn, MicroStrategy (MSTR), the worldโs largest corporate Bitcoin holder witnessed a price decline of over 10%.
#AIMarketCapDip #CryptoMarketDip #HMSTR #Dogecoinโฌโฉ #BTC
