đ¨ Why is the Altcoin Market Going Down? đ¨
The recent crypto market crash can be attributed to several factors:
1. **Economic Data from the U.S.**: Stronger-than-expected job growth has reduced the likelihood of the Federal Reserve cutting interest rates soon. This uncertainty negatively impacts riskier assets like cryptocurrencies.
2. **Leveraged Long Positions**: A significant number of leveraged long positions were liquidated, further driving down prices.
3. **Technical Indicators**: Bearish divergences in the Relative Strength Index (RSI) suggest ongoing market weakness.
Remember, this could be an opportunity to buy more coins. However, always do your own research. Cryptocurrency is a very volatile marketâdon't invest all your savings.
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