Why is the Crypto Market Dropping Today?

The cryptocurrency market experienced significant volatility yesterday, triggering substantial liquidations. The total market capitalization dipped by 2% to around $2.68 trillion on Thursday, April 3rd, during the European trading session. Over $490 million was lost in the past 24 hours due to a large number of traders—mostly long-term investors—facing losses. Notably, a significant order worth around $12 million on the Binance exchange liquidated ETH/USDT holdings. The market drop can be attributed to several factors, including geopolitical and economic events.