Why Bitcoin , Ethereum and XRP Price Crashing Today?
Portfolio Pulse from
The cryptocurrency market experienced a significant downturn, with Bitcoin, Ethereum, and XRP prices dropping over 4-5% in the past 24 hours. Key factors driving the selloff include declining futures open interest, potential U.S. tariff implementation, and low demand from short-term holders. Over $336 million was liquidated from leveraged crypto markets, primarily affecting long traders.
March 28, 2025 | 8:30 am
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NEGATIVE IMPACT
Bitcoin experienced a market-wide selloff, with total crypto market cap dropping 4.2% and Bitcoin's futures open interest declining by 1% in the past 24 hours.
Bitcoin's price movement reflects broader market concerns, including potential U.S. tariffs and reduced short-term investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95
NEGATIVE IMPACT
Ethereum price dropped over 5% to around $1,909, with open interest declining by 3.58% in the past 24 hours, reflecting broader market volatility.
Ethereum's price decline is consistent with overall market trends, influenced by economic uncertainty and reduced short-term investor demand.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
XRP experienced a significant price decline, dropping over 5% to trade at $2.24. The cryptocurrency saw a 3.21% reduction in open interest, reflecting broader market bearish sentiment.
The sharp decline in XRP's price is driven by reduced market demand, declining futures open interest, and overall cryptocurrency market uncertainty.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90