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The cryptocurrency market decline the day before yesterday was triggered by several factors:
1. Market Liquidations: Over $600 million worth of positions in Bitcoin (BTC) and Ethereum (ETH) were liquidated, intensifying market volatility and driving down prices
2. Regulatory Changes in Europe: The OKX exchange discontinued support for USDT trading pairs in the European Economic Area to comply with new MiCA regulations. This raised concerns among traders about the stability and accessibility of popular stablecoins
3. Declining User Activity: Some platforms, like Immutable (IMX), experienced significant losses due to technical issues and reduced demand, further influencing overall market sentiment
$BTC $SOL
These events, combined with the inherent volatility of the crypto market, contributed to notable price drops and investor losses.
1. Market Liquidations: Over $600 million worth of positions in Bitcoin (BTC) and Ethereum (ETH) were liquidated, intensifying market volatility and driving down prices
2. Regulatory Changes in Europe: The OKX exchange discontinued support for USDT trading pairs in the European Economic Area to comply with new MiCA regulations. This raised concerns among traders about the stability and accessibility of popular stablecoins
3. Declining User Activity: Some platforms, like Immutable (IMX), experienced significant losses due to technical issues and reduced demand, further influencing overall market sentiment
$BTC $SOL
These events, combined with the inherent volatility of the crypto market, contributed to notable price drops and investor losses.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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