LIVE – Why Is Crypto Down? $14.2B Stablecoin Drain Turns a Bad Morning Into a Market-Wide Rout

Why is crypto down? Bitcoin crashed below $69,000 just now, dragging the crypto markets into another brutal selloff. Ethereum slipped below $2,000, while several major altcoins recorded losses exceeding 6%. The decline comes as crypto faces a dangerous combination of shrinking dollar liquidity, institutional withdrawals, and aggressive leveraged selling. The situation is becoming increasingly uncomfortable. Investors are pulling capital from stablecoins and Bitcoin ETFs, leaving fewer buyers to absorb selling pressure. Once Bitcoin broke below $70,000, leveraged traders faced another wave of forced liquidations. Billions Disappear From Stablecoin Supply The biggest warning sign comes from the stablecoin market, where the amount of available dollar liquidity is shrinking rapidly. Glassnode reported that major stablecoin supply declined by $14.2 billion over 30 days.

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