Is the Crypto Market Crashing Right Now?
The month of April has seen another crypto market crash rather than getting into the spirit of the pre-halving price surge. What will happen next?
Many crypto assets have faced volatility issues recently, which has caused the crypto market heat map to be dominated by red. This is not the first time this has happened, because at the beginning of the second quarter of 2024, the crypto market was experiencing price fluctuations and major volatility problems.
This shows the current market crash where cryptocurrencies are slumping. Many fear a market crash and may sell their crypto, triggering selling pressure.
Why Are Crypto Markets Crashing Today?
Market volatility often leads to price drops, thus crashing the crypto market. Reasons, such as Market Sentiment and entering a correction zone, have been attributed to this decline.
Market Sentiment
The fear and greed index data has shifted from the scores. This indicates increased selling pressure in the crypto market where investors are selling their cryptocurrencies instead of buying or HODLing them.
Although the current change in sentiment is not very big, compared to March data, the market is running slowly.
Crypto Liquidation
99,403 crypto traders have fallen victim to liquidity in the last 24 hours. The total liquidation data contains $274.74 Million, and Bybit alone was responsible for $8.38 Million in liquidations.
Bitcoin, Ethereum, and Solana are the cryptocurrencies most affected by this liquidation.
Market Correction Before Halving
The Bitcoin halving is only a few days away, and mining rewards will be halved after that. This will help maintain the scarcity of Bitcoin as production will decrease, but this will have an impact on miners.
Analysts have confirmed Bitcoin's correction before the halving event, which is happening right now. This correction may continue for several days before entering a pre-halving price rally, followed by a long-term post-halving price correction.#loveissharing$BTC $ETH $SOL