CoinDesk: No clear catalyst visible relative to current downtrend

Cryptocurrencies that had been quiet for a few days are suddenly showing a downward trend, CoinDesk has reported. In the case of Bitcoin, it has fallen by about 3% over the course of the past hour. Meanwhile, Ethereum and Solana are showing a steeper decline. There were clear catalysts for the previous two price plunges, the publication claims. In early July, the German government began selling, and in early August, the Bank of Japan's interest rate hike served as a catalyst. However, today's selling does not show a clear catalyst at the moment, with the decline occurring as the U.S. stock market is showing an upward trend. According to CoinMarketCap, Bitcoin is currently trading at $56,912.81, down 3.43%.