Ethereum got hit by a massive flash crash today, dropping almost 15% in an hour. We caught the dump during the live stream and analyze the reasons leading to the dump.
Bitcoin has too much influence in the crypto market. hence in one day, Bitcoin fell to $3,000. Investors are psychological and sell BTC to cut loss and ETH also affects and falls. You keep looking on coinmarketcap when Bitcoin increases, the green Altcoins.
Investors are not selling to cut loss. Why would they sell to cut loss when the price was already approaching a new ATH? Investors are selling because they have already made a profit. That's the reason why.
And this correction right now is not just unique to Bitcoin or to Ethereum. Other coins which were also among the ones which gained much in the recent rally are also in serious dip right now. But it seems the selling hours are already done and the buying hours are already beginning.