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Top Reasons Crypto Market Is Dropping Today
The total cryptocurrency market value slid to about 2.82 trillion dollars on Friday, erasing earlier gains as prices fell across major coins. Bitcoin dropped more than 4 percent over 48 hours to trade near 81,500 dollars, below its 50-day moving average. The market mood gauge tumbled from greed to neutral in one day, reflecting a sharp shift toward caution. The selloff tracked a broader retreat in technology and artificial intelligence stocks, where renewed doubts about heavy spending pushed investors toward safer assets. Spot Bitcoin exchange-traded funds recorded 635.6 million dollars in net outflows on Thursday, with BlackRock and Fidelity products leading redemptions. Rising oil prices, a stronger Japanese yen and Japan's highest inflation in nine months added to the pressure. Traders now watch a large monthly options expiry next week, with a key pain level near 78,000 dollars for Bitcoin.
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Top Reasons Crypto Market Is Dropping Today
The total cryptocurrency market value slid to about 2.82 trillion dollars on Friday, erasing earlier gains as prices fell across major coins. Bitcoin dropped more than 4 percent over 48 hours to trade near 81,500 dollars, below its 50-day moving average. The market mood gauge tumbled from greed to neutral in one day, reflecting a sharp shift toward caution. The selloff tracked a broader retreat in technology and artificial intelligence stocks, where renewed doubts about heavy spending pushed investors toward safer assets. Spot Bitcoin exchange-traded funds recorded 635.6 million dollars in net outflows on Thursday, with BlackRock and Fidelity products leading redemptions. Rising oil prices, a stronger Japanese yen and Japan's highest inflation in nine months added to the pressure. Traders now watch a large monthly options expiry next week, with a key pain level near 78,000 dollars for Bitcoin.