Fall of crypto market.

The crypto market took a hit 4 days ago, with Bitcoin plummeting to a low of $60,300, its weakest point since October 2024. This sudden drop was triggered by China's ban on yuan-pegged stablecoins and regulatory compression from the East, coupled with leverage liquidations in the West. The broader market shed roughly $2 trillion in value, with altcoins like Ethereum and XRP also experiencing significant losses ¹ ².

The crash led to over $775 million in crypto liquidations on February 5 alone, with institutional investors and whales likely driving the market sentiment. Nigerian investors, who had heavily invested in crypto, were also affected, with some calling for caution and others seeing it as a buying opportunity ² ³.

The market's volatility has been attributed to various factors, including global tariff war concerns, regulatory uncertainty, and shifting investor sentiment. As the situation unfolds, it's clear that the crypto market remains highly unpredictable.