#CryptoMarketDip

The crypto market is experiencing a significant dip, with the global market cap decreasing by 6.41% to $3.36 trillion.¹ This downturn has affected major cryptocurrencies like Bitcoin, Ethereum, and popular altcoins, with losses ranging from 5% to over 12% in the past 24 hours.

*Key Factors Contributing to the Dip:*

- _Rising U.S. Treasury Yields_: The 10-year yield has climbed to 4.7%, signaling tighter monetary policies that discourage investment in riskier assets like cryptocurrencies.

- _Tech Stock Weakness_: The increase in bond yields and expectations of further Fed actions to curb inflation have put pressure on tech stocks, triggering a domino effect that has affected the crypto market.

- _Labor Market Data_: Rising job vacancies have kept inflationary concerns high, increasing the likelihood of a more hawkish Federal Reserve stance.

Despite this downturn, some experts believe that the crypto market's dip isn't the end of the bull market.² Historically, Bitcoin and other major assets have rebounded after sharp corrections. However, it's essential to exercise caution and consider multiple perspectives before making investment decisions.