HomeUncategorizedWhy is the crypto market down today? By Cointelegraph

Why is the crypto market down today? By Cointelegraph

October 11, 2023

[ad_1]



Price action across the crypto market remains tilted to the downside as investors and businesses digest today’s higher-than-expected inflation and growing uncertainty over conflict events in the Middle East and Ukraine.

The market volatility led to a rush of liquidations and sent the crypto market total value locked (TVL) to lows not witnessed since March 2021.

Cryptocurrency market performance, 30-day chart: Coin360
September PPI chart. Source: The U.S. Bureau of Labor Statistics
Global economic health. Source: U.S. Bank
Crypto market total value locked and volume. Source: DeFiLlama
Crypto market liquidations. Source: Coinglass