Why Bitcoin, Ethereum, and Dogecoin Crashed Today
The crypto market was in full panic mode on Tuesday as valuations fell double digits almost across the board. To be fair, the move has little to do with crypto itself; values are down because of a feared trade war and waning consumer confidence.Bitcoin (CRYPTO: BTC) has been the biggest headline maker, falling 8.2% over the past 24 hours as of 11:45 a.m. ET. Ethereum (CRYPTO: ETH) is down 9.2% over that time, and Dogecoin (CRYPTO: DOGE) is off 9.1%. The decline seems to have slowed, but it's not clear if there will be a recovery in trading today.The hard truth being revealed today is that crypto pricing is tied to the economy and highly correlated with the performance of growth stocks. When investors thought the future was going to be much brighter, in fall 2024, the crypto market bounced higher, but the reality is a little less bullish.Continue reading
The crypto market was in full panic mode on Tuesday as valuations fell double digits almost across the board. To be fair, the move has little to do with crypto itself; values are down because of a feared trade war and waning consumer confidence.
Bitcoin (CRYPTO: BTC) has been the biggest headline maker, falling 8.2% over the past 24 hours as of 11:45 a.m. ET. Ethereum (CRYPTO: ETH) is down 9.2% over that time, and Dogecoin (CRYPTO: DOGE) is off 9.1%. The decline seems to have slowed, but it's not clear if there will be a recovery in trading today.
The hard truth being revealed today is that crypto pricing is tied to the economy and highly correlated with the performance of growth stocks. When investors thought the future was going to be much brighter, in fall 2024, the crypto market bounced higher, but the reality is a little less bullish.
