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, including Bitcoin, Ethereum, and popular altcoins. Bitcoin's price has dropped 5.79% to $96,120, while Ethereum has fallen nearly 9% to $3,343 ¹.

Several factors are contributing to this market dip, including:

- *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 ¹.

- *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's affecting the crypto market ¹.

- *Labor Market Data*: Rising job vacancies have kept inflationary concerns high, increasing the likelihood of a more hawkish Federal Reserve stance ¹.

Despite this downturn, some experts believe that the bull market remains intact, and this dip could be an opportunity for long-term investors to buy in ². However, it's essential to exercise caution and consider market volatility before making any investment decisions.#CryptoMarketDip