The cryptocurrency market dropped today for a few main reasons:

1. Economic news: Strong economic data from the US suggests that interest rates may remain high, making risky investments like crypto less attractive.

2. Rising Treasury yields: Government bond yields have risen, driving money away from cryptocurrency markets.

3. Profit-taking: After Bitcoin recently hit $100,000, some investors sold to lock in profits, sending prices lower.

4. Regulatory uncertainty: Mixed sentiments about potential new cryptocurrency regulations caused some panic selling.

5. Liquidations: Many traders who were using borrowed money (leverage) were forced to sell, pushing prices even lower.

This mix of factors led to today’s drop in the cryptocurrency market. $ETH $BNB $SOL

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