<ul><li>The crypto market experienced a sharp decline today, with the total market capitalization dropping by $68.48 billion to $3.24 trillion.</li><li>Bitcoin and Ethereum maintained around the same levels, while altcoins like XRP, Dogecoin, and Cardano suffered losses of up to 2.8% over the last 24 hours.</li><li>Factors contributing to the decline include massive profit-taking as Bitcoin investors secured $1.5 billion in realized profits and Bitcoin ETFs witnessed outflows of $1.23 billion from May 29 to June 2.</li><li>The market sentiment remains uncertain, with Bitcoin in a tight range-bound phase around $105K, as traders observe key support and resistance levels for potential price movements.</li></ul>

Why Is Crypto Down Today? Massive Profit-Taking and ETF Outflows Likely to Blame

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