Why is the Crypto Market Down Today?🚨🚨🚨
Reason Behind the Crypto Crash
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 Managers’ Index (PMI) for the private sector was 54.1, higher than November’s 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 world’s largest corporate Bitcoin holder witnessed a price decline of over 10%
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