Why is the crypto market down this day?

BTC/USD

-2.12%

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The crypto market is down this day, as a slew of negative news events weigh on Bitcoin, Ether and altcoin prices.

After jumping to yearly highs, Bitcoin (BTC) and Ether (ETH) retraced a portion of their year-to-date gains and the necessary downside catalyst gave the influence to be an announcement that the US Department of Justice would prove enforcement action against Bitzlato and ramp-up rigidity on obvious players in the crypto sector.

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