The crypto market is under heavy pressure today, with prices falling sharply over the weekend and investors asking one question: what went wrong?
The total crypto market value has dropped to around $2.6 trillion, down nearly 5% in the last 24 hours.
Bitcoin, which was trying to hold above $78,000, has now slipped below that level, adding to market fear.
Many traders are now watching the next major support near $75,000.
The biggest driver of today’s crash is liquidations.
In just 24 hours, more than $2.58 billion worth of crypto positions were wiped out.
This happens when traders use borrowed money and prices move against them, forcing exchanges to close positions automatically.
Weekend markets usually have lower trading volume and thinner liquidity.
That means fewer buyers are available when prices start falling.
As Bitcoin dropped below key levels, sell orders piled up quickly, pushing prices down faster than usual.
Bitcoin falling below $78,000 was a major technical trigger.
This level had been acting as short-term support.
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