A variety of factors have been identified as being the cause of the drop in price, including an overcrowded futures market and heavy selling activity from small- to medium-size whales. Aside from the activity of whales in the crypto market, the most impactful development was a proposal from the administration of United States President Joe Biden to raise the capital gains tax for individuals making more than $1 million per year.
Continue Reading on Coin Telegraph
Source: Cryptocurrency - investing.com
