$BTC Election expectations are bearish (the main driver of sentiment right now)
Rate hike expectations are rising, and U.S. Treasury yields are climbing. The Nov. 6 jobs report and Nov. 10 CPI release are just around the corner. ETFs continue to see net outflows, and institutions are pulling out. Also, when BTC breaks below a key support level, large numbers of long contracts are forcibly liquidated, triggering automatic selling and a cascade of sell-offs.
Rate hike expectations are rising, and U.S. Treasury yields are climbing. The Nov. 6 jobs report and Nov. 10 CPI release are just around the corner. ETFs continue to see net outflows, and institutions are pulling out. Also, when BTC breaks below a key support level, large numbers of long contracts are forcibly liquidated, triggering automatic selling and a cascade of sell-offs.