Why Are Bitcoin & Ethereum Prices Dropping? What's Behind Today's Crypto Market Correction?

Crypto markets reversed earlier gains as fresh sell-offs triggered a technical correction and risk-off sentiment. Bitcoin fell below $76,000 (struggling around $75,000) after rejection from a rising channel; failure to hold $71,600–$72,300 could see a deeper drawdown toward $67,000. Ethereum slipped below $2,300 to ~ $2,270 and may revisit the $2,000–$2,100 consolidation zone if $2,200 support breaks. Market cap dropped 2.53% to $2.54 trillion on rising volume (~$150 billion), with over $281 million in long liquidations and crypto futures open interest surpassing $123 billion (BTC OI ~$57 billion). Drivers cited: profit-taking, pre-FOMC anxiety, ETF outflows, deteriorating sentiment and oil-driven inflation fears — all increasing near-term volatility and downside risk for risk assets.