The crypto market has crashed due to the following reasons:
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1. The ongoing conflict between Iran and Israel.
2. Widespread concern about a potential global recession in 2025.
3. Genesis Global's transfer of $1.5 billion worth of Bitcoin and Ethereum to repay creditors after its bankruptcy. This transaction, involving over 16,000 BTC and 166,000 ETH, led to a 2.2% drop in Bitcoin's price.
Note: Donât worry too much. For now, avoid making new trades and focus on spot buying of Ethereum and Bitcoin. Youâve already been updated on Bitcoinâs price action, including its rejection from resistance levels. Best of luck!
