Why did #ETH drop so sharply today? Ultimately, it's because of the flurry of GDP data and economic meetings this week.
It's a well-known pattern in the market that every meeting always triggers a drop in the market. And every time the Federal Reserve holds a meeting, they always boast about how strong the economy is, only to have the data released later contradict them, finding it far from impressive.
This week also features employment and GDP data, and judging by the current trends, these figures are likely to be disappointing. Consequently, the cryptocurrency market has been affected, experiencing a drop.