Crypto Market #Crash 🔻 Reasons for Recent Bitcoin and Altcoin Plunge 📊
The #crypto market crashed, global market cap dropped 5% to $1.05T in 24 hrs. Major liquidations occurred due to #SEC lawsuits against Coinbase and #Binance .
Binance.US halted USD support, #Robinhood delisted SOL, ADA, and MATIC. Longs worth $300M and shorts $25M were liquidated. Grayscale withdrew Filecoin Trust's registration.
Market makers pulled altcoin liquidity, causing a sell-off. Trillions of SHIB tokens were moved to Binance, triggering SHIB and BONE price drop.
Scimitar Capital liquidated $2B crypto holdings.
Understand the crash, causes, and implications.
