Why Is The Crypto Market Down Today?
The crypto market is down 0.51% today, shedding roughly $13 billion in valuation as capital keeps rotating toward US equities through a familiar May pattern. Bitcoin ($BTC) sits at $76,786, off 0.60% and pinned just above a key technical level. Zcash ($ZEC) leads the downside, falling 4.25% to $624, though on visibly lighter sell volume than recent dips. In the news today:-Coinbase executives endorsed the CLARITY Act, framing payment stablecoins as lower-risk than commercial banks under the GENIUS reserve frameworkAttackers drained $3.2 million from 86 Gnosis Safes through a third-party SquidRouterModule, while Squid said the exploited contract was not its codeHyperliquid launched canonical outcome markets based on offchain events, with validators voting on the deployment and settlement of each market Crypto Market Cap Slips, All Eyes on US Stocks Next The total crypto market cap sits at $2.54 trillion. It is down 0.51% over the past 24 hours, shedding $13.07 billion as risk capital is shaping up to tilt back toward US stocks, once the market reopens on Tuesday. The print rests directly on the 0.382 Fibonacci level at $2.53 trillion, the swing line drawn from the late-March low to the early-May peak. Total Crypto Market Cap Analysis: TradingView The driver is the same rotation that