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Why is the crypto market down today?

2022.09.23 15:52

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Why is the crypto market down today?

Crypto prices keep falling, but why? This year’s market crash has turned most winning portfolios into net losers, and new investors are probably losing hope in (BTC).

Investors know that cryptocurrencies exhibit higher than average volatility, but this year’s drawdown has been extreme. After hitting a stratospheric all-time high at $69,400, Bitcoin price crumbled over the next 11 months to an unexpected yearly low at $17,600.

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Why is the crypto market down today?

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bitcoin
Bitcoin (BTC) $ 96,547.87 0.13%
ethereum
Ethereum (ETH) $ 2,753.19 2.64%
xrp
XRP (XRP) $ 2.56 0.75%
tether
Tether (USDT) $ 1.00 0.02%
bnb
BNB (BNB) $ 665.97 2.29%
solana
Solana (SOL) $ 170.37 0.24%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.243874 0.76%
cardano
Cardano (ADA) $ 0.769283 0.27%
staked-ether
Lido Staked Ether (STETH) $ 2,743.21 2.39%
tron
TRON (TRX) $ 0.241735 1.24%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,338.81 0.05%
chainlink
Chainlink (LINK) $ 17.80 1.50%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,286.04 2.63%
avalanche-2
Avalanche (AVAX) $ 25.66 1.32%
sui
Sui (SUI) $ 3.41 2.20%
stellar
Stellar (XLM) $ 0.330816 0.78%
litecoin
Litecoin (LTC) $ 126.65 1.61%
the-open-network
Toncoin (TON) $ 3.76 4.58%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 2.38%
hedera-hashgraph
Hedera (HBAR) $ 0.214148 1.26%
leo-token
LEO Token (LEO) $ 9.70 0.30%
usds
USDS (USDS) $ 1.00 0.02%
mantra-dao
MANTRA (OM) $ 8.51 11.88%
hyperliquid
Hyperliquid (HYPE) $ 24.31 2.12%
polkadot
Polkadot (DOT) $ 5.06 2.10%
weth
WETH (WETH) $ 2,751.67 2.55%
bitcoin-cash
Bitcoin Cash (BCH) $ 327.69 2.93%
bitget-token
Bitget Token (BGB) $ 5.08 0.78%
ethena-usde
Ethena USDe (USDE) $ 0.999821 0.04%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,915.81 2.54%
uniswap
Uniswap (UNI) $ 9.01 2.79%
monero
Monero (XMR) $ 234.04 0.99%
near
NEAR Protocol (NEAR) $ 3.45 0.41%
pepe
Pepe (PEPE) $ 0.000009 2.64%
whitebit
WhiteBIT Coin (WBT) $ 27.48 0.33%
aave
Aave (AAVE) $ 245.97 1.58%
ondo-finance
Ondo (ONDO) $ 1.15 1.70%
bittensor
Bittensor (TAO) $ 430.99 1.53%
aptos
Aptos (APT) $ 5.98 0.42%
internet-computer
Internet Computer (ICP) $ 7.15 0.44%
dai
Dai (DAI) $ 0.9999 0.01%
official-trump
Official Trump (TRUMP) $ 16.21 0.42%
ethereum-classic
Ethereum Classic (ETC) $ 20.60 1.96%
mantle
Mantle (MNT) $ 0.911444 3.74%
tokenize-xchange
Tokenize Xchange (TKX) $ 38.05 2.89%
okb
OKB (OKB) $ 49.40 0.55%
gatechain-token
Gate (GT) $ 23.48 0.77%
susds
sUSDS (SUSDS) $ 1.04 0.03%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 96,516.86 0.12%