Why Is Crypto Down Today? The Real Reasons Behind The Crypto Crash

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.Bitcoin slipped under $64,000 as a Chinese chip breakthrough crashed the Kospi and traders de-risked before the Fed. Here is what is really driving it.Crypto is red across the board today, and for once the trigger did not come from crypto at all. It came from a single subscription-only tech report about lithography machines in Shanghai. That story took down South Korea's stock market, dragged the entire AI hardware complex with it, and landed on a crypto market that was already sitting on its hands ahead of tomorrow's Federal Reserve decision.Here is what actually happened, in order of importance.AdvertisementHow far has crypto fallen today?$Bitcoin broke back below $64,000 on July 28, trading around $63,150 and down roughly 2.8% over 24 hours. It is the third time BTC has cracked that level since July 24, and each break has come with a liquidation cascade attached. Today's flush wiped out about $100 million in leveraged positions inside a single hour. The July 24 version was la...