WHY ARE ALL CRYPTOS DROPPING

BTC: Current Price: $98.7k (down 2.42%), Dominanc: 54.63%
ETH: Current Price: $3.8k (down 3.41%), Dominance: 12.99%
XRP: Current Price: $2.38 (down 8.7%), Dominance: 3.78%
ADA: Current Price: $1.12 (down 6%), Dominance: 1.10%
Reasons contributing to the decline
1. Market Volatility near key levels
- Bitcoin's approach to the 100k mark has led to increased volatility, with a recent dip below this threshold. Expect a potential pullback to around $87k if current support levels fail
2. High Liquidation
- Market has seen significant liquidations, with approximately $288 million liquidated in the past 24 hours, including $217 million in long positions, thus creating a bearish sentiment.
3. Regulatory & economic factors like the November CPI
4. After recent rallies, some investors may be taking profits
SHOULD YOU BE WORRIED?
If you are a short-term investor, yes. Market volatility is high and prices can swing rapidly in either directions. If you are trading on leverage, this type of downturn can result in huge losses. (Advice is to keep a close watch on key support levels and set stop losses to protect your capital)
If you are a long term investor (HODL), no. Temporary drops are part of crypto investing. As long as you believe in the fundamentals of assets like ADA, XLM, XRP, short terum fluctuations is not a worry.
Cryptos like BTC n ETH can experience daily swings of 5-10% and smaller altcoins might see even bigger fluctuations.
Temporary dip is nothing to be fearful of. Continue monitoring the market and stay vigiliant.