💰 Economic News: Strong US economic data suggests that interest rates may remain high, making risky investments like cryptocurrencies less attractive.
💰💰 Rising Treasury yields: Government bond yields have risen, drawing money away from cryptocurrency markets.
💰💰💰Profit-taking: After Bitcoin recently hit $100,000, some investors sold to lock in profits, causing prices to fall.
💰💰💰💰 Regulatory uncertainty: Mixed feelings about potential new cryptocurrency regulations have caused some panic selling.
💰💰💰💰💰Liquidation: Many traders who used borrowed money (leverage) were forced to sell, pushing prices even lower.
This combination of factors led to today's cryptocurrency market crash.