$BNB 📉 Why Is The Crypto Market Down Today?
Crypto market loses $266 billion as liquidations push total capitalization near support. 💸
Bitcoin hits 28 month low near $64,536 with downside risk toward $55,883. 📉🚨
STABLE plunges 23.4 percent as selling pressure tests key support levels. 📉🌪️
The 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. 📉📉
MicroStrategy shares came under renewed pressure after Bitcoin fell to $60,000, pushing the company’s large BTC holdings further below its average purchase price. 🏢📉 With Bitcoin about 21% under cost basis, MicroStrategy’s stock now trades at a discount to its Bitcoin net asset value, highlighting rising balance-sheet risk. ⚠️📊
📉 The Crypto Market Lost $266 Billion
The total crypto market cap fell $266 billion in the past 24 hours, dropping to $2.19 trillion at the time of writing. 💸📉 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. 🔥💸
The $2.12 trillion level now represents the market’s final defense. 🛡️🧱 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. ⏳📉
A rebound remains possible if investor sentiment stabilizes. 📈✨ 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. 💪🚀
