Krutika Adani
The cryptocurrency market has experienced a significant 7.9% drop in the last 24 hours. Almost all major cryptos, including Bitcoin and Ethereum, have felt the impact, while altcoins plummeted from $1.49T to $1.38T.
The drop in crypto values is largely attributed to the US market’s downturn and the strengthening US dollar.
Despite recent losses, experts believe Bitcoin’s bullish trend is still intact.
The options market shows a slight increase in implied volatility, but experts report that future volatility expectations remain stable.