In the last 24 hours, the cryptocurrency market has experienced a sharp decline, leading to a decrease in prices of major digital assets. For instance, the price of Bitcoin dropped by 5.5%, while Ethereum lost over 5% of its value. This decline affected nearly all major cryptocurrencies, although the Binance token decreased by 3.9%, which was the mildest drop among major assets.
The main reasons for this decline include market correction after record price levels, when Bitcoin, for example, was recently priced at over $100,000. Additionally, the cryptocurrency market is known for its volatility, and such price fluctuations are the norm. There were also many liquidations in the markets over the past day, forcing investors to sell their assets, which further worsened the situation.
Despite this, many experts believe that cryptocurrencies remain promising in the long term, as interest from large investors and institutional players continues to grow.