$BNB ๐ Why Is The Crypto Market Down Today?
โCrypto market loses $266 billion as liquidations push total capitalization near support. ๐ธ
โBitcoin hits 28 month low near $64,536 with downside risk toward $55,883. ๐๐จ
โSTABLE plunges 23.4 percent as selling pressure tests key support levels. ๐๐ช๏ธ
โThe total crypto market cap (TOTAL) and Bitcoin (BTC) registered their largest single-day falls this year, bringing the latter to $64,500. Stable (STABLE) followed the crypto king, falling by 23% in 24 hours, pulling away from its all-time high. ๐๐
โMicroStrategy shares came under renewed pressure after Bitcoin fell to $60,000, pushing the companyโs large BTC holdings further below its average purchase price. ๐ข๐ With Bitcoin about 21% under cost basis, MicroStrategyโs stock now trades at a discount to its Bitcoin net asset value, highlighting rising balance-sheet risk. โ ๏ธ๐
โ๐ The Crypto Market Lost $266 Billion
โThe total crypto market cap fell $266 billion in the past 24 hours, dropping to $2.19 trillion at the time of writing. ๐ธ๐ TOTAL is barely holding above the $2.12 trillion support. The decline was driven by cascading liquidations totaling nearly $2.2 billion, intensifying broad market pressure. ๐ฅ๐ธ
โThe $2.12 trillion level now represents the marketโs final defense. ๐ก๏ธ๐งฑ A breakdown could expose TOTAL to a decline to $2.00 trillion. Continued weakness across major tokens raises concerns about recovery timing, as rebuilding confidence may require sustained inflows and reduced volatility. โณ๐
โA rebound remains possible if investor sentiment stabilizes. ๐โจ Should deleveraging slow and demand return, TOTAL could defend $2.12 trillion. A successful bounce from this level may allow the total crypto market cap to recover part of the recent losses and ease near-term downside risk. ๐ช๐
