• Market Cap: $2,539,410,923,588.63
  • 24h Vol: $95,593,510,591.98
  • BTC Dominance: 51.64%

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What is the reason behind the crypto market's decline this week?

What is the reason behind the crypto market’s decline this week?

– The cryptocurrency market has experienced a significant downturn, with the total market capitalization falling by 10% between Aug. 14 and Aug. 23.

– Rising interest rates, inflation, and global financial turmoil have contributed to the market’s underperformance.

– The delay in approving a Bitcoin ETF and regulatory pressures have also had a negative impact on the market.

– Financial difficulties within the Digital Currency Group and regulatory scrutiny of Binance and Coinbase have added to the market’s woes.

– Despite a potential global economic slowdown, investors are flocking to the perceived safety of the U.S. dollar.

– The ebb and flow of economic factors and regulatory developments will continue to shape the cryptocurrency market’s trajectory in the coming months.

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