why is crypto down today

The crypto market is down today primarily due to a combination of macroeconomic uncertainty, seasonal headwinds, and technical factors. Investors are cautious ahead of the upcoming Federal Open Market Committee (FOMC) meeting as well as recent geopolitical tensions like the Trump vs. Federal Reserve feud. The crypto market cap has declined by about 3%, with significant liquidations totaling around $414 million, affecting many traders. Bitcoin, Ethereum, and many altcoins have experienced price drops, reflecting growing volatility and reduced investor confidence. Additionally, there's a large $14.7 billion crypto options expiry today, adding to the downward pressure. However, some tokens are bucking the trend and performing well despite the overall market dip. Experts consider this a temporary downturn amid broader macroeconomic concerns and expect a possible bullish outcome in the long term.