Crypto Crash: 5 Cryptos that Crashed Hard Today

The crypto market is experiencing another wave of turbulence, with several major tokens taking a hard hit. Despite recent bullish hopes, the market continues to move sideways, leaving traders and investors cautious.

Why are Cryptos Crashing?

Several factors are contributing to the current downturn:

1. Profit-Taking: Many traders and investors who bought at lower prices are now cashing out, locking in their gains as prices approach key levels.
2. Day Traders Closing Positions: As prices hit key resistance areas, day traders often exit their trades, adding selling pressure to the market.
3. Weak Buying Power: On a global scale, uncertainty about the next big market move has dampened buying enthusiasm, leading to less demand and more price volatility.

Total crypto market cap in USD - TradingView

5 Cryptos That Crashed Hard Today

Here are the top five cryptocurrencies that have seen significant losses in the past 24 hours:

• Ethena (ENA): Currently trading at $0.44, down 10.3% in the last 24 hours.
• Onyxcoin (XCN): Priced at $0.02, with a 7.1% drop.
• Aptos (APT): Trading at $5.80, experiencing a 6.0% decline.
• Official Trump (TRUMP): At $5.82, down 4.7%.
• Aave (AAVE): Sitting at $242, with a 5.21% decrease.

How Traders Profit During Crashes

While market downturns can be daunting, savvy traders often capitalize on these conditions through shorting—betting against the market to profit from falling prices. By opening short positions, traders can benefit as asset values decline. Bitget stands out as an excellent platform for shorting, offering advanced trading tools, competitive fees, and a secure environment for executing trades even in volatile markets. Signing up, verifying your account, and depositing funds on Bitget can get you started with shorting opportunities during crypto crashes.

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What’s Next for the Market?

While the market remains volatile, sideways movements often precede strong directional trends. Traders should keep an eye on support and resistance levels and consider risk management strategies to navigate this uncertain phase. Staying informed and adaptable is key in these dynamic conditions.