The crypto market is crashing today, with Bitcoin and most altcoins being in the red. After hitting $87,000 earlier this week. Bitcoin has slumped to $83,830, while Ethereum fell to $2,670. Top altcoins like Arbitrum, Pepe, Uniswap, and Official Trump were among the top laggards as they fell by over 11%. So, why is the crash happening today? Top laggards in crypto market today | Source: SoSoValue Crypto market crash is driven by the soaring bond yields The main reason why cryptocurrency prices are falling today is that the bond market in the United States and other countries is struggling. Data shows that the ten-year yield jumped to 5.1% on Wednesday and the uptrend is continuing.