💥💥Strong correction in the crypto market. Always use risk management for your operations.
🔥Every Friday the market usually corrects after large whale sales that occur at the weekend. $ENA $AEVO $PORTAL These 3 projects suffered a lot with this correction, they are currently within support regions.
The cryptocurrency market suffered a significant drop yesterday due to a combination of factors. One of the main reasons was increased regulatory scrutiny. The US Securities and Exchange Commission (SEC) has issued new warnings about unregistered securities offerings and taken action against several prominent crypto exchanges. This added to existing fears among investors about increased regulatory enforcement in the crypto space
Furthermore, macroeconomic factors contributed to the decline. There was unexpected volatility in US employment data, which caused broader market fluctuations and affected investor sentiment in riskier assets such as cryptocurrencies
Another factor was congestion on the Bitcoin network, which led to an increase in transaction fees, further dampening investor enthusiasm.
Overall, these combined influences triggered a sell-off, resulting in a notable drop in cryptocurrency prices.