🪙🪙🪙 Three Reasons Why the Crypto Market Is Falling Today 📉
🟦Election Uncertainty. There are 2 weeks left until the US elections. Earlier, optimism around a possible Trump victory and positive comments from Harris pushed cryptocurrencies up. Now that the race is ending, many investors are abandoning risky assets.
🟦Fed Rates. The Fed is expected to take longer to cut interest rates than previously thought. This forecast strengthened the US dollar and increased Treasury yields, making cryptocurrencies less attractive.
🟦Gold as a Safe Haven. Amid pressure on cryptocurrencies, gold is attracting the attention of investors. Its price reached a record $2,725.81, and the market value is approaching $18.38 trillion.
