Crypto Market Crash Today: Decoding the <$96 Billion Drop> in Bitcoin and Beyond

The crypto world woke up to red charts today. The total market cap lost $96 billion in just 24 hours, now sitting at $2.21 trillion. Bitcoin fell 4% to around $64,987, while altcoins like LayerZero (ZRO) dropped a whopping 11%. What’s causing this ? Let’s break it down step by step.

The Big Picture: Why Is the Crypto Market Down?

Broad fear is gripping investors. A mix of global news, tech breakdowns, and low buying power has sparked heavy selling. Here’s what happened:

• Macro Shocks: US President Donald Trump’s talk of 15% tariffs on global trade spooked everyone. Stocks tumbled, and crypto followed suit. Risky assets like Bitcoin hate uncertainty.
• Sanctions Drama: Reports say some exchanges, like Bitpapa and Exmo, let Russians swap rubles for crypto to dodge sanctions. This raises red flags about regulation and could lead to crackdowns.
• SEC Update: Good news for stablecoins! The SEC now says broker-dealers can use a small 2% cut on dollar-pegged stablecoins for capital rules, not 100%. But markets shrugged it off amid the panic.

Weak liquidity means small sells turn into big drops. Short-term holders are dumping, adding fuel to the fire.

Bitcoin’s Pain: Breaking Key Supports

Bitcoin led the . It slipped below $65,000, a key support level. Now at $64,987, BTC looks weak.

Technically, BTC broke its consolidation range. Sellers rule now. Next stop? $62,893 if panic grows. High volume on the way down confirms bears are strong.

But hope isn’t lost. If BTC climbs back above $65,000 and holds it, bulls could push to $67,674. Watch volume for clues.

Total Market Cap: <$2.22 Trillion> Breached

The TOTAL cap dived under $2.22 trillion. It’s testing $2.21 trillion now. If sellers win, $2.13 trillion is next – that could spark more liquidations.

Risk-off mood hurts all coins: Ethereum, Solana, you name it. Low confidence means no quick bounce.

LayerZero (ZRO): The Biggest Loser

ZRO tanked 11.6% to $1.50. It failed to beat its 200-day moving average and fell below the 50-day one. Bears are in charge.

Support at $1.45. If it breaks, more pain. For recovery, ZRO needs $1.58 as new support, then aim for $1.75.

What Triggered the Sell-Off?

1. Trump Tariffs: 15% on imports? Global trade fears hit risk assets hard. Crypto acts like a high-beta stock in these times.

2. Sanctions Bypass: Exchanges enabling ruble-crypto swaps could face bans. This hurts trust in the space.

3. Tech Weakness: Moving average failures show momentum shift. No buyers stepping in.

4. Liquidity Crunch: Thin order books amplify moves. One big sell cascades.

What to Watch Next in This Crypto Dip

• BTC at $65K: Hold or fold?
• TOTAL at $2.21T: Break it, and pain deepens.
• News Flow: More on tariffs or regs?
• Volume: Rising sells mean trouble; buys signal rebound.

If markets calm, we could see a snap back. But sustained drops point to a correction phase. Stay cautious.

Final Thoughts on the

Today’s drop blends macro fears, regs, and tech fails. Bitcoin and altcoins feel the heat, but crypto’s volatile – bounces happen fast. Track supports, manage risk, and don’t FOMO in.

What’s your take? Will we see $60K BTC or a quick recovery? Drop thoughts in comments.

Prices as of writing; markets change fast. DYOR.

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