Why is Crypto Market Down Today (April 12)?
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The crypto market has fallen due to escalating geopolitical tensions between the US and Iran, with the total capitalization dropping 1.72% in less than 24 hours. The breakdown of diplomatic negotiations and the US naval blockade of the Strait of Hormuz have triggered a risk-off sentiment, leading to liquidations and a decline in crypto prices.
The crypto market has seen a significant decline due to rising tensions between the US and Iran. The total capitalization fell 1.72% in less than 24 hours, reaching $2.42 trillion. The US-Iran tensions have triggered a risk-off sentiment, leading to liquidations and a decline in crypto prices. Bitcoin liquidations increased by 89.57% in the last day, with $89M in long positions wiped out. The Crypto Fear and Greed Index has been downgraded to 43, indicating increasing apprehension. Key crypto prices have dropped, with Bitcoin falling below $72,000 and Ethereum and XRP also declining.
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