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The crypto market experienced a sharp decline as the selloff in Nasdaq technology stocks spilled over into digital assets. Bitcoin dropped 2.5% to $62,300, while Ethereum fell over 4%, with $717 million in liquidations exacerbating losses across altcoins. The move highlights the growing correlation between traditional tech equities and crypto markets, particularly during periods of heightened volatility. Traders are now assessing whether this correction signals a broader market rotation or a temporary overreaction to macroeconomic concerns. The liquidations data underscores the fragility of leveraged positions in crypto, which could amplify future price swings. Market participants will closely monitor Fed policy signals and tech sector performance for clues on the crypto market's next direction.
