Why Is Crypto Down Today? The 5 Reasons Behind the November 3 Sell-Off

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Why is crypto down today? Bitcoin sits near $76,000 after the Binance hack, a hawkish Fed and a Nasdaq slide. The five drivers, explained.Add as a preferred source on GoogleFollow on Google News$Bitcoin is trading around $76,600 this morning, down roughly 2% in 24 hours and still well below the $80,000 level it lost last week. Ethereum hovers near $2,250, Solana has slipped under $95 and NEAR is down double digits on the day. Total liquidations over the past 24 hours sit in the hundreds of millions again. You can track the live numbers on our crypto prices page and the market-wide metrics on our charts page.So why is crypto down today? Not one reason, but five stacked on top of each other.Why Is Crypto Down Today? Reason 1: The Binance Hack Is Still Being DigestedLast Thursday's exploit, now the largest crypto hack ever in dollar terms at roughly $6 billion, knocked Bitcoin from $78,700 to the mid-$76,000s overnight. Binance has since reopened selected withdrawals, but confidenc...