Cryptocurrency Market Crash: June 21, 2024

Today, the cryptocurrency market has fallen due to several key factors:

1.Interest Rate Expectations:

Declining expectations of rate cuts by the US Federal Reserve have increased Treasury yields, making cryptocurrency investments less attractive.

2. Fund Outflows from Bitcoin ETFs:

Institutional investors have withdrawn funds from Bitcoin ETFs, increasing selling pressure in the market.

3. Mass Liquidations:

Liquidations of long positions have reached $403 million in the last 24 hours, exacerbating the price decline due to forced selling.

These combined factors have led to a day of high volatility and decline in the cryptocurrency market.$BTC $ETH #Bitcoin #pepe⚡ $PEPE