📉 Why did cryptocurrencies decline today?
The crypto market witnessed a noticeable decline today for several reasons, the most prominent of which are:
- Warnings from American banks about the risks of trading with leverage.
- Strict measures from China including a ban on owning cryptocurrencies.
- A hack of the "Bybit" platform and the withdrawal of $1.4 billion, which increased panic in the market.
- Major losses for traders due to sharp volatility and high-risk trades.
- Weak market sentiment with the decline of major tech stocks.
🔍 Predictions:
The market may see a recovery if #Bitcoin surpasses $106,265, but regulatory and security concerns may further pressure prices.
