Why is Crypto market Down Today? $1.4B Ethereum Hack The Reason?

The cryptocurrency market is experiencing a downturn with over $544 million in liquidations in the last 24 hours. Possible contributing factors include a reported $1.4 billion Ethereum hack on the Bybit exchange, along with broader economic tensions between the US and other countries. Additional downward pressure comes from Bitcoin's price drop due to selling and ETF outflows. Major cryptocurrencies like Bitcoin, Ethereum, and XRP have seen 24-hour price declines of 0.45%, 1.5%, and 3.50% respectively, further fueling the negative market sentiment.