Why Is Crypto Down Today? The Real Reasons Behind The Crypto Crash
Crypto is red across the board today, and for once the trigger did not come from crypto at all. It came from a single subscription-only tech report about lithography machines in Shanghai. That story took down South Korea's stock market, dragged the entire AI hardware complex with it, and landed on a crypto market that was already sitting on its hands ahead of tomorrow's Federal Reserve decision.
Here is what actually happened, in order of importance.
How far has crypto fallen today?
$Bitcoin broke back below $64,000 on July 28, trading around $63,150 and down roughly 2.8% over 24 hours. It is the third time BTC has cracked that level since July 24, and each break has come with a liquidation cascade attached. Today's flush wiped out about $100 million in leveraged positions inside a single hour. The July 24 version was larger, at roughly $87 million.
Altcoins took the harder hit, as usual:
- Ethereum ($ETH): around $1,872, down about 3.5%
- $XRP: around $1.05, down about 4.4%
- Solana ($SOL): around $73, down about 4.1%
- Hyperliquid ($HYPE): around $56, down about 6%
Total crypto market capitalisation sits near $2.16 trillion, with Bitcoin dominance above 56%. That dominance number matters: capital is not rotating into altcoins on this dip, it is consolidating into the largest asset or leaving entirely.
โฆ Continue reading the full article at the original source below.
