$BTC The crypto market is crashing today due to a combination of factors, including:

- Recession fears: The latest U.S. nonfarm payrolls report revealed a weaker-than-expected jobs growth, sparking fears of a slowdown and impacting risk assets like cryptocurrencies.

- Risk-off sentiment: The U.S. stock market has lost a staggering $1.1 trillion in valuation, triggering a sharp decline in the U.S. Dollar Index and a sell-off in the crypto market.

- Bitcoin long liquidations: The cryptocurrency market has seen a surge in long liquidations, with approximately $241.07 million worth of long positions liquidated, accounting for 90% of total market liquidations.

- Stock market decline: The broader stock market decline has further weighed on the crypto market crash, with the Nasdaq Composite losing 2.43% and the Dow Jones Industrial Average losing 1.51%.

- Bitcoin and Ethereum ETF outflows: Both Bitcoin and Ethereum ETFs have faced significant outflows, contributing to the market's woes, with Bitcoin ETFs seeing $237.4 million in outflows and Ethereum ETFs experiencing outflows totaling $54.3 million.

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