Ethereum leading the downturn as its price plunges below $3,100. This sharp decline has precipitated a substantial sell-off, totaling approximately $300 million in liquidated assets, sending shockwaves through the digital currency landscape and impacting investors worldwide.
Understanding the Market Dynamics
Cryptocurrency markets are renowned for their rapid and sometimes unpredictable price movements, influenced by a myriad of factors including market sentiment, regulatory developments, and institutional trading activities.·
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