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Crypto Crash Reason: $116 Billion Wiped Out in 24 Hours, Here's Why

  • The total cryptocurrency market cap dropped by 4.00%, reaching $2.72 trillion.
  • Bitcoin lost 3.55% and Ethereum suffered a sharper hit of 6.40%.
  • Factors contributing to the crypto market decline include trade wars, liquidations of overleveraged futures positions, and prevailing bearish technical setups.
  • Investors are advised to exercise caution and focus on risk management in navigating the current volatile market.

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