Why Is the Crypto Market Down Today? 

2023-9-11 14:20

The cryptocurrency market is in a slump today, with the total market capitalization dropping to $1.02 trillion, a 1.33% decrease in the last 24 hours.

Investors and traders are scratching their heads, wondering what’s driving this downturn. Let’s delve into the key factors contributing to the market’s current state.

Bitcoin and Ethereum Take a Hit

The two juggernauts of the crypto world, Bitcoin and Ethereum, are both trading at lows not seen in months. Ethereum is currently trading below $1,600, a level it hasn’t seen since March. Bitcoin, on the other hand, is trading below $25,700, its lowest point since June.

Source: CoinStats – Start using it today

Historically, September has not been kind to Bitcoin. The cryptocurrency has seen an average decline of 5.5% in this month over the years. In fact, only twice has Bitcoin closed September in the green—once in 2015 and again in 2017. The most significant September downturn occurred in 2014, when Bitcoin plummeted by 19%. Given this historical context, it wouldn’t be surprising to see further declines before the month is out.

FTX Liquidating Assets Creates Market Jitters

CaptainAltcoin reports that FTX is set to receive court approval to liquidate $1.8 billion worth of crypto assets on September 13th. This news has instilled a sense of fear among traders and investors. But is this fear justified?

Contrary to the drama circulating online, the liquidation process won’t happen overnight. Regulatory bodies like the SEC and CFTC would never allow such a hasty move. Instead, there will be a structured framework for selling these tokens, potentially at a rate of $200 million per week.

Furthermore, the liquidation is likely to be handled by an underwriter, who will ensure compliance with laws and regulations while negotiating the terms of the sale, most likely through over-the-counter (OTC) transactions. This process could take months, and the market’s immediate reaction may be more of a self-fulfilling prophecy of fear, uncertainty, and doubt (FUD) than a rational response to the news.

Missed Opportunities with Regulatory Wins

Despite some recent positive news, like (Grayscale winning a lawsuit against the SEC), the market simply failed to capitalize on these victories.

While there was a brief positive reaction, it quickly gave way to further consolidation and a continued downtrend.

Conclusion

The crypto market is complex and influenced by a myriad of factors. While today’s downturn can be partly attributed to historical trends and recent news, it’s essential to remember that the market is highly volatile and can be subject to rapid changes.

Investors should exercise caution and conduct thorough research before making any decisions. Whether this is a temporary slump or a sign of more significant issues to come remains to be seen, but for now, it’s crucial to keep a level head and not succumb to market hysteria.

Join us on Twitter and Facebook for the latest insights and discussions in the world of crypto.

Explore our news section and stay ahead of the curve with our expert price predictions.

The post Why Is the Crypto Market Down Today?  appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market today traders scratching investors hours downturn

market today → Результатов: 126


This Top Altcoin is the Only Survivor of Today’s Red Market

Cryptocurrency prices have slid across the board today, but the market always holds surprises. One leading altcoin in particular has managed to avoid the crash unscathed.   Market Downturn Erased 25% Off Altcoins in a Week ChainLink (LINK) not only remained one of the few assets in the green, but actually continued on a small hike as other assets still sank lower.

2020-2-28 15:00


After $10B Drop, Crypto Market Slightly Recovers: Why a Trader Expected Today’s Bounce

Following yesterday’s widespread crypto market plunge, most major cryptocurrencies have bounced slightly today, but they are still down significantly from where they were a week ago. The market’s recent volatility has led Tether, the largest stable coin by market cap, to briefly overtake EOS to be the fourth most valuable cryptocurrency by market capitalization.

2019-1-30 03:00


Crypto markets are on an upswing today, July 16, as data from Coin360 shows, with Bitcoin reclaiming the $6,600 price point. Today’s notable market growth is likely bolstered by news that the $6.3 trillion asset management heavyweight BlackRock

Crypto markets are on an upswing today, July 16, as data from Coin360 shows, with Bitcoin (BTC) reclaiming the $6,600 price point. Market visualization from Coin360 Today’s solid market gains are poised to turn around negative momentum that has thwarted price performance since market descent that began July 10. Bitcoin is trading around $6,607, up

2018-7-16 19:45


Фото:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Фото:

CNBC ‘Fast Money’ Sees Bitcoin Bulls And Bears All In One Segment

In today’s segment of CNBC ‘Fast Money’, the hosts took a look at the current state of Bitcoin, pointing out signals and what they mean for the market going forward. Bitcoin Sees Interest Decline, Is That A Problem? The cryptocurrency market saw an astonishing 2017, with the industry quickly becoming the talk of the town […] The post CNBC ‘Fast Money’ Sees Bitcoin Bulls And Bears All In One Segment appeared first on Ethereum World News.

2018-7-12 06:16


Фото:

Bitcoin Remains the Best Cryptocurrency Investment, According to Wall Street Trader

Bitcoin has had a rough 2018. However, it is still hands down the best cryptocurrency investment — an opinion shared by one prominent Wall Street trader.   ‘The use case for bitcoin is valid today’ While the vast majority of the cryptocurrency market remains speculative at best, Bitcoin remains one of the only cryptocurrencies which people are actually using.

2018-7-11 19:00