The crypto market has not only crashed for one reason, but it has multiple reasons, such as leverage liquidation, exchanges, some economic news, political news, economic imbalance, etc. From Saturday, the crypto market was wiped out by almost $291 billion due to some exchanges blaming each other for a crash in the past. The market cap of all coins is down by almost 6% in the last 24 hours.
The main reason behind the crypto crash is that Donald Trump selected Kevin Warsh to succeed Jerome Powell as the next Federal Reserve chairman.
The Second main reason for the crypto market crash is the highest liquidation in multiple exchanges; the liquidation increased by 350% in the last 24 hours, which is the largest in the past months.
The past October crash happened due to Trump’s tariffs on china but this time the situation has changed.
