$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 stocksâfactors 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. đčđđ
*Note: This article provides opinions that may differ from The Motley Foolâs 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