$ETH ## Ethereum Experiences Sharp Decline:

What Caused the Flash Crash?

### **Key Points:**

- Around noon ET on April 13, 2024, the crypto market experienced a sudden downturn, causing most tokens to drop over **10%**.

- Major cryptocurrencies were significantly impacted:

- **Bitcoin (BTC)** fell over **$4,000** in value to **$66,440**.

- **Ethereum (ETH)** dropped **9%** to **$3,216**.

- **Dogecoin (DOGE)** plunged **14.2%**.

- Liquidations exceeded **$600 million** in the last four hours.

- While there weren't any major news items directly affecting the crypto market, this kind of volatility often occurs at the end of the week or on weekends.

- The week overall was challenging for cryptocurrencies due to hotter-than-expected inflation, which led to increased interest rates and a decline in tech and growth stocks—factors traditionally correlated with falling crypto values.

- Regulatory uncertainty also played a role, with the U.S. Securities and Exchange Commission (SEC) issuing a Wells notice to Uniswap, signaling potential legal action against the cryptocurrency.

### **Market Data:**

- **Bitcoin (BTC)**

- Current Price: **$67,493.98**

- Market Cap: **$1,328 billion**

- 52-Week Range: **$17.06 - $73,802.63**

- **Ethereum (ETH)**

- Current Price: **$3,216**

- Market Cap: **Not specified**

- 52-Week Range: **Not specified**

- **Dogecoin (DOGE)**

- Current Price: **$0.17**

- Market Cap: **$25 billion**

- 52-Week Range: **Not specified**

The crypto market remains volatile, and investors are closely monitoring developments as they navigate regulatory challenges and market fluctuations. Stay informed and consider professional advice when making investment decisions. 💹📉🚀

*Note: This article provides opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member for access to top analyst recommendations, in-depth research, and investing resources.

Source: BINANCE Market Data#BinanceLaunchpool #cpi #bitcoinhalving #BullorBear #Memecoins $ETH $BTC