Why is the crypto market dropping today?

The total market capitalization of cryptocurrencies (TOTAL) has suffered a massive drop of 120 billion dollars over the last 24 hours, due to significant liquidations and outflows from Bitcoin ETFs

BTCUSD

. The price of Bitcoin

BTCUSD

thus fell to 90 000 $ in the early hours of this Tuesday, November 18, and Soon (SOON) followed the king of cryptos with a decrease of 34%.

Today's news:

1inch has launched Aqua, a new liquidity protocol aimed at addressing capital fragmentation, a long-standing issue in DeFi, by allowing multiple strategies to share the same liquidity without sacrificing self-custody. This update represents one of the most significant architectural changes since the 1inch aggregation engine became a leading routing layer.

DappRadar is shutting down permanently, as financial difficulties have made it impossible to continue its operations. The analytics platform, in service since 2018, indicates that issues related to its DAO and its RADAR token will be addressed separately.

The crypto market is plummeting

The total market capitalization of cryptocurrencies has dropped by 120 billion dollars and now stands at 3.04 trillion dollars. The price of TOTAL is thus approaching the critical threshold of 3.00 trillion dollars, increasing pressure on major assets as investors react to heightened volatility and weakening market sentiment.

With TOTAL trading below 3.05 trillion dollars, the persistence of market weakness could push it below 3.00 trillion. A drop to 2.93 trillion could trigger a more general panic, as traders reassess short-term risk and adjust their positions in the face of accelerating bearish momentum.