Why is the crypto market crashing?

There are two main reasons why altcoins are unraveling today.

If you notice, the price of bitcoin just dropped 2.3%, but most altcoin prices dropped between 20% and 35% in just a couple of hours. This happens because traders are not sure about the price of bitcoin. The price of BTC is very close to its all-time high. People are expecting a major correction in the BTC price. This is why bitcoin dominance is increasing. Investors are waiting for the right time to invest. For this reason, altcoin volume is declining.

The second reason is that the crypto market witnessed the huge outflow of bitcoin ETFs. Since 48 hours, more than $ 750 million in BTC left the Bitcoin ETF. This caused the cryptocurrency market to become more bearish.

At the time of writing, bitcoin price is moving above $ 65000. What do you think if bitcoin price undergoes a major correction, what will be the next $BTC price target? Comment

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