$BTC $ETH $SOL
The Main Causes Of The Fall
The cryptocurrency market is in a correction phase today,
Because on April 2, the total market capitalization fell by 5.20%
To $2.40 trillion, which was the biggest one-day drop in three weeks.
Bitcoin and the rest of the crypto market fell today due to lower chances of reducing Fed interest rates, after stronger production data in the United States than previously expected. It is noteworthy that after that, on April 1, the U.S. Institute of Supply Management reported an increase in the production index by 2.5%,
For the first time since 2022.
The probability of maintaining high interest rates causes an increase in the yield of bonds and the US dollar,
Because of which inverters reduce purchases of risky assets such as stocks and cryptocurrency. At the same time, yesterday there was still an outflow of capital from the ETF, which amounted to $85.7 million.
