The US stock market experienced a significant loss of over $1.5 trillion in a single trading day, which had a major impact on the cryptocurrency market. The sell-off was triggered by a combination of factors, including Federal Reserve rate cuts and geopolitical tensions. The crypto market saw liquidations amounting to $588 million, with XRP and Bitcoin being the most affected. Altcoins also faced price declines, and market sentiment turned cautious. However, certain assets like Ethena and Movement performed well. Former BitMEX CEO Arthur Hayes warned of potential further market volatility, and some analysts see this period as a buying opportunity. There are also rumors of a new cryptocurrency exchange-traded fund (ETF) coming in 2025, sparking hope for market recovery.



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