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COINTURK NEWS > Cryptocurrency News > Major Sell-Offs Trigger Sharp Declines in Cryptocurrency Markets
Cryptocurrency News

Major Sell-Offs Trigger Sharp Declines in Cryptocurrency Markets

In Brief

  • Bitcoin and major cryptocurrencies face declines due to recent profit-taking.

  • Market experts advise caution as significant support levels are tested.

  • Changes in Fed policy have influenced investor expectations and market dynamics.

Ömer Ergin
Ömer Ergin 2 months ago
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Bitcoin $103,023 and other major cryptocurrencies have experienced declines following profit-taking in the Asian session. Bitcoin fell more than 3%, dipping below the $84,000 mark. Ethereum $2,340 lost its footing at the $2,000 level, and Solana $172 faced a 5% drop. The total market capitalization of cryptocurrencies decreased by 3.2% in the last 24 hours. Experts caution that investors should exercise caution in this volatile market.

Contents
Sharp Declines Following Profit-TakingFed Impact and Investor Expectations

Sharp Declines Following Profit-Taking

Profit-taking that began yesterday evening in the cryptocurrency market led to significant value losses in major tokens. Bitcoin dropped from the $86,000 level to below $84,000. Ethereum lost its critical support at $2,000, resulting in a downward trend. Meanwhile, Solana saw a 5% decrease, while XRP managed to maintain its upward trend partially, achieving a 4.8% increase following a 10% rise earlier in the week.

Fed Impact and Investor Expectations

The recent Federal Reserve meeting did not result in a rate cut; however, it announced a reduction in its quantitative tightening program starting in April. This development was interpreted by some investors as an indirect easing step. Although there was a brief surge in the cryptocurrency market post-announcement, this movement was not sustained.

Changes in options markets have also been noteworthy, with the likelihood of Bitcoin surpassing $100,000 by June 30 rising from 20% to 30%. Ethereum has seen an increase in long positions, reflecting a more balanced expectation that it will hold around the $2,000 mark. Experts highlight that sudden price movements can present both opportunities and risks, urging investors to closely monitor central bank decisions and technical levels.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 21 March, 2025 - 4:38 pm 21 March, 2025 - 4:38 pm
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