Just checked the market and crypto is definitely crashing today. The whole sector dropped about 1.74%, with total cap now around 2.31 trillion. Bitcoin is leading the decline at around 68k, and honestly it's pulling everything down with it since BTC dominance is sitting above 55%. The fear index hit 14, which is extreme territory. Nobody's buying the dip right now even though prices are lower. I saw that Bitdeer, one of the major Bitcoin miners, just dumped their weekly production of about 190 BTC onto the market. That's a lot of selling pressure. Their CEO mentioned they're now holding zero Bitcoin on their balance sheet except customer deposits, which basically means all mined supply is flowing directly to market. That kind of move definitely contributed to why crypto is crashing like this. At the same time, spot Bitcoin ETFs saw outflows of around 316 million last week, so institutions are reducing their positions too. The altcoin situation is even worse. Solana dropped to 82 dollars, XRP fell to 1.35, and Ethereum is down more than Bitcoin, which tells you investors are just rotating into safer assets right now. This is the typical pattern when fear takes over. Interestingly, Michael Saylor from MicroStrategy posted about buying more Bitcoin today despite all this, so at least some big players are still accumulating. But yeah, the overall sentiment is pretty bearish right now and that's why crypto is sliding across the board.

BTC-1,87%
SOL-2,91%
XRP-2,66%
ETH-4,21%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin