Why is Crypto Crashing?

Published by

Nidhi Kolhapur

June 9, 2026

A fractured golden Bitcoin coin cracked down the middle next to falling market candlestick charts on a dark red background surrounded by bleeding altcoin tokens.

The cryptocurrency market declined 3.82% over the past 24 hours, reducing total market capitalization to approximately $2.11 trillion. The selloff was driven by a reported $36 million exploit involving Humanity Protocol ($H), which triggered a roughly 90% collapse in the token and raised concerns about broader contagion across altcoins. Ethereum added pressure to the market, falling 14.1% over the past week as leveraged long positions faced liquidation risks near $1,625. Traders are watching whether the market can hold the $2.1 trillion level, with stability dependent on containing fallout from the exploit and maintaining investor confidence.

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