Here's Why Crypto Market Is in Red

developments, the U.S. dollar has been demonstrating upward momentum, edging closer to the 200 Exponential Moving Average . If a breakout occurs, it could potentially propel the dollar even higher. This ascendancy of the U.S. dollar could exert downward pressure on cryptocurrencies and other financial assets, causing them to decrease in value.

If the dollar does breach the 200 EMA threshold, it could lead to another leg down for the crypto market. Cryptocurrency investors should, therefore, brace themselves for a potential market downturn.has been moving upward. This price rally comes in spite of a substantial drop in network activity among Cardano's holders of large amounts of ADA.

Conversely, when whales leave the network, as seems to be the case with Cardano, the selling pressure decreases. This drop in selling pressure could be the driving factor behind the current rise in ADA's price.

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