$BTC $ETH $BNB #Binance The cryptocurrency market is down today, with the total market capitalization falling, why? A plausible cause is that Investors enter risk-off mode after higher-than-expected U.S. jobs data!!!

Market participants reacted to stronger than expected U.S. employment data, this latest employment data reading has potentially pushed back the odds of the Federal Reserve lowering interest rates — a key prerequisite for a liquidity influx into risk assets and crypto.

In consequence over $380 million in liquidations accompany crypto market crash

The liquidation of long positions versus short ones across the broader crypto market has further fueled the underperformance of digital assets today.

Notably, the crypto derivatives market has witnessed over $387.83 million worth of liquidations in the last 24 hours, out of which $348 million were long. More than $249 million leveraged positions have been liquidated over the last hour alone.

More than 133,576 traders have been liquidated over the last 24 hours with the largest single liquidation order occurring on OKX crypto exchange involving an ETH/USD swap worth $5.20 million.

When long positions are liquidated, it generally involves selling off the asset (voluntarily or by the broker), which can drive the price down further.

So accordingly this data, the breakdown is completely normal but, immature traders also will panic and sell assets based on fear momentum.

My advice, keep calm, don't overreact to market events, do your own research before take any actions.

Look at total market capitalization from last 24h

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