This post explains the reasons for the decline in digital currencies today:
1. Liquidation of long positions**: Long positions amounting to $822 million were liquidated, which greatly affected the market.
2. Impact of economic data**: Strong employment data in the United States affected the economic outlook and prompted investors to act cautiously, causing cryptocurrencies to decline by $235 million.
3. Whale Sales**: Massive selling from major investors (whales) amounting to $427 million led to oversupply in the market and lower prices.
4. Fund outflows**: Fund outflows from ETFs amounted to $326.9 million, adding further pressure on prices.
