💥💥 Big reason of BTC going down 💥💥
It is possible that BTC reaches 73000$
The biggest reason for Bitcoin going down so much is not any news about Bitcoin itself, but the US stock market.
Yesterday in America, shares of AI and chip making companies fell badly. Nasdaq fell by about 5.5%, Nvidia by about 9% and AMD by more than 17%. This same fear pulled Bitcoin down too, and it fell from 80,000 dollars to around 75,500 dollars.
The second big reason is leverage liquidation. When the price fell, the positions of people who had bought on borrowed money were forcefully closed. In just 24 hours, positions of more than 1 billion dollars were liquidated, most of them were long traders. This made the fall even faster.
The third reason is the US midterm elections. After the Democrats won, people are afraid that restrictions may be imposed on AI data centers, and the previous soft policy for crypto may also change. That is why big investors also pulled
money out of Bitcoin ETFs, with an outflow of about 430 million dollars in one day.
In simple words, Bitcoin is currently connected with tech stocks. When Wall Street gets scared, Bitcoin also falls.
It is possible that BTC reaches 73000$
The biggest reason for Bitcoin going down so much is not any news about Bitcoin itself, but the US stock market.
Yesterday in America, shares of AI and chip making companies fell badly. Nasdaq fell by about 5.5%, Nvidia by about 9% and AMD by more than 17%. This same fear pulled Bitcoin down too, and it fell from 80,000 dollars to around 75,500 dollars.
The second big reason is leverage liquidation. When the price fell, the positions of people who had bought on borrowed money were forcefully closed. In just 24 hours, positions of more than 1 billion dollars were liquidated, most of them were long traders. This made the fall even faster.
The third reason is the US midterm elections. After the Democrats won, people are afraid that restrictions may be imposed on AI data centers, and the previous soft policy for crypto may also change. That is why big investors also pulled
money out of Bitcoin ETFs, with an outflow of about 430 million dollars in one day.
In simple words, Bitcoin is currently connected with tech stocks. When Wall Street gets scared, Bitcoin also falls.
