#CryptoMarketDip There are 7️⃣Reasons for the crypto market recent dip↘️:

1️⃣  A sudden rise in the US 10-year Treasury yield.

2️⃣  Unexpected strong US economic data, including:

   👉Strong labor market statistics

   👉ISM services index rose above expectations

3️⃣  Major liquidations in the cryptocurrency market:

   👉About $480 million was liquidated

   👉Bitcoin fell by 5%

   👉Ethereum fell by 8%

4️⃣  Market leverage reduction:

   👉More than $1 billion lost in open positions for Bitcoin and Ethereum

5️⃣  Change in investors' expectations about the Federal Reserve cutting interest rates in 2025

6️⃣  Bitcoin price drops below $98,000

7️⃣  Shares of cryptocurrency-related companies were negatively affected, such as:

   👉MicroStrategy

   👉Marathon Digital

↘️This drop was part of a broader market decline, as strong economic data changed investors' expectations and put pressure on riskier assets such as cryptocurrencies.