Why is the cryptocurrency market falling today?

Key points

-After several days of bull market, due to political and economic changes in many countries, the cryptocurrency market has taken a sharp downturn today, leading to market collapse.

-According to the Fear and Greed Index, the level of greed has decreased, and global market capitalization has decreased by 2.82% to $2.47 trillion, with almost all cryptocurrencies in decline.

-The main reasons include the results of the EU parliamentary elections, the 25 basis point interest rate cut by the European Central Bank, the election results in India, and the bear flag form of Bitcoin.

-The price of Bitcoin has fallen to $67779, causing other cryptocurrencies to also fall, but analysts predict that Bitcoin prices will not continue to decline.