Why is the crypto market currently collapsing? Ethereum falls 8%, while Bitcoin drops 6%.

credit : google

credit : google

The market leader in cryptocurrencies, Bitcoin, has fallen to a three-month low, and Ethereum has dropped more than 8% today.

credit : google

There are presently fewer triggers in the cryptocurrency market, and the excitement around Ethereum Merge has diminished.

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Due to global macroeconomic conditions, cryptocurrency markets are in a slaughter on Monday. The market is having trouble maintaining its $900 billion value.

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Investors maintained a cautious stance as they awaited the US Fed's monetary policy decisions in the face of rising inflation.

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The market leader in cryptocurrencies, Bitcoin, has fallen to a three-month low, and Ethereum has dropped more than 8% today.

credit : google

There are presently fewer triggers in the cryptocurrency market, and the excitement around Ethereum Merge has diminished.

credit : google

Additionally, the US dollar's surge has further harmed the atmosphere of the global markets, rendering cryptocurrencies susceptible.

credit : google

 The worldwide crypto market cap was $914.50 billion at the time of writing on Coin Market Cap, down 5.56% from the previous day.

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However, during the past 24 hours, the entire volume of the cryptocurrency market has increased by 66.3% to $81.92 billion.