In accordance with CryptoDaily, the cryptocurrency market has experienced a severe downturn, with Bitcoin (BTC) falling over 7% in the past 24 hours and slipping below $90,000. Ethereum (ETH) dropped over 9%, while Solana (SOL), Ripple (XRP), and Dogwifhat (WIF) also saw significant declines. Analysts attribute the selloff to a combination of liquidations, profit-taking, and macroeconomic uncertainty. The crypto market capitalization has fallen 6.50% to $2.94 trillion. Market makers are reportedly facing liquidity issues, with Tom Lee of BitMine Immersion Technologies noting that balance sheet gaps are exacerbating the downturn. Additionally, the SEC under Chair Paul Atkins has seen a 25% drop in enforcement actions in 2025, according to a report by Cornerstone Research.
Major Cryptocurrencies Crash Amid Market Sell-Off and Liquidity Concerns
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