Major Crypto Crash: Why are Bitcoin and Altcoins Falling?

The US Securities and Exchange Commission’s (SEC) lawsuits against major crypto exchanges Binance and Coinbase initiated a process early in the week that saw Bitcoin (BTC) and most altcoins managing to stay strong. However, as the weekend approached, the cryptocurrency market came under heavy selling pressure. So, why are Bitcoin and altcoins falling? Let’s take a closer look. The Current Situation in the Crypto Market After the largest cryptocurrency, Bitcoin, dipped below $26,000, the rest of the cryptocurrency market faced severe losses. As of the writing of this article, BTC traded at $25,671, representing a 3.18% drop in the last 24 hours, while the biggest altcoin Ethereum (ETH) exchanged hands at $1,770, indicating a 3.20% fall in the same period. Among the top 50 altcoins, Cardano (ADA), Solana (SOL), Polygon (MATIC), Avalanche (AVAX), Shiba Inu (SHIB), and Toncoin (TON) saw declines of 21.63%, 20.35%, 21.71%, 17.14%, 21.56%, and 20.24%, respectively, […] The post Major Crypto Crash: Why are Bitcoin and Altcoins Falling? appeared first on COINTURK NEWS.