Why Is the Crypto Market Dropping Today?

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The crypto market is down today as investors view crypto products funds outflows and the recent LIBRA memecoin scandal as catalysts for bearish market momentum.

The cryptocurrency market is flashing red today, with the total market capitalization dropping by 2% to about $3.13 trillion on Feb. 18.

While the crypto market is known for its volatility, several concrete factors have contributed to this latest dip, including:

Liquidations across the crypto market pulling down crypto prices.

Investors are in risk-off mode amid high outflows from crypto investment products.

Weakening market technicals hint at further downside.

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