Why Crypto Market is Crashing Today?


The cryptocurrency market is down today as a result of negative publicity surrounding Silvergate Bank and a lawsuit brought by US regulators against KuCoin.

Higher interest rate fears may have led traders to sell assets, and upcoming US jobs data may have added to bearish sentiment.

The global crypto market cap dropped below $1 trillion with Bitcoin Price Dropping below $20k.

According to data from Coinglass, bitcoin traders suffered the most losses, almost $112 million in the last day, while ether liquidations exceeded $73 million.