Good morning friends.

Bitcoin fell to the 57 thousand band. Normally, there are news and data that suppress the market in such declines, but we did not see tangible negative news flows in this decline.

I see Binance sales as the only data that caused this decline. As you can see in the chart, Binance has made quite a lot of sales since the last peak and continues to do so during the period we have reached.

However, I would like to point out that these sales of Binance have always been something that has happened. In other words, this is not an extreme situation that has happened for the first time. On the other hand, if we consider that the markets are pricing in negative data, this data may be that the FED will not lower interest rates this month either.

In summary, the situations are as follows: There is no obvious reason for the recent declines in the markets. With an unknown, the Bitcoin price fell by $8 thousand.

#Bitcoin