Is Bitcoin (available on Coinbase) (BTC) the reason behind the crypto selloff?

The crypto market has experienced some major losses in the past 24 hours. At the time of writing, all coins but two within the top 100, are down right now. To get a taste of the bloodshed, take a look at the data from CoinMarketCap:

Source: CoinMarketCapThe top ten cryptocurrencies are all experiencing major losses. Leading the pack in losses is Bitcoin (available on Coinbase) Cash (BCH) and Litecoin (available on Coinbase) (LTC).

There’s no denying that the markets are struggling – but why?

Bitcoin (available on Coinbase) may be the reason.