Crypto market is facing a massive crash, as the prices of top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) dipped today. Thus, the investors community is exposing a huge interest to sell off the currencies in the dip. In that order, the google search volume for “sell Ethereum” spiked up 972% in just 24 hours.
Earlier today, both BTC and ETH price values were performing on a bearish scale with an unexpected downfall. At present, Bitcoin is standing at $41,786.66 following ETH prices at $3,182.56 at the time of writing.
ETH Price Crash
As the ETH price is facing a huge downfall, investors are in fear observing the market crash over the last 24 hours. Regarding this, the market analysis report reveals the interest for selling Ethereum among the investors raised almost 10 times than the average volume per day.
To be more specific, the google search for “Why has Ethereum gone down?” also spiked upto 2000% over the last 24 hours. This depicts that ETH holders are very curious about the market fluctuations which remain unpredictable. However, there must be valid reasons behind the crash of these popular currencies.
Thus, a Spokesperson reported to City A.M publication, London’s business newspaper stating,
“The main reason for the ETH dip is because of the official announcements of new crypto regulations from China. In addition, Tesla’s U-Turn to accept Bitcoin as a currency which disturbed the entire crypto market.”
Besides, as per the record, nearly $1 billion in liquidations took place across the entire crypto industry. Out of which, it is noticeable that Ethereum liquidations were higher than BTC liquidations in the market.
However, as the value of BTC and ETH slopes down, the entire market crashes reflecting a price fall in all other cryptocurrencies. Besides the recent crash, the entire social media is very active trending the main keywords such as “buy” and “dip” triggering the fear and curiosity among the users.
Thus, the investors community are very eager to see further market trends. As the crypto space always plays a twisting game in the end.