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Is Bitcoin’s Drop Tied to Economic Concerns and Regulatory Issues? 📉
Bitcoin's price recently surged by 6% but #dropped 4.5% on October 2 after failing to breach the $28,500 resistance, influenced by Ether futures ETFs' disappointing performance and economic concerns.
This marks 47 days since Bitcoin closed above $28,000, resulting in $22 million in long leverage futures contracts being #liquidated . Investor sentiment is affected by the overheated US economy, with expectations of further Fed action due to strong labor market data.
The launch of Ether #ETFs fell short of expectations, in contrast to the successful Bitcoin Strategy ETF launch in 2021.
Regulatory pressure mounts as Binance faces a class-action lawsuit, and Bitcoin's correlation to traditional markets is stronger than anticipated, emphasizing the ongoing risks in the cryptocurrency space.
#Binance
#crypto2023
Bitcoin's price recently surged by 6% but #dropped 4.5% on October 2 after failing to breach the $28,500 resistance, influenced by Ether futures ETFs' disappointing performance and economic concerns.
This marks 47 days since Bitcoin closed above $28,000, resulting in $22 million in long leverage futures contracts being #liquidated . Investor sentiment is affected by the overheated US economy, with expectations of further Fed action due to strong labor market data.
The launch of Ether #ETFs fell short of expectations, in contrast to the successful Bitcoin Strategy ETF launch in 2021.
Regulatory pressure mounts as Binance faces a class-action lawsuit, and Bitcoin's correlation to traditional markets is stronger than anticipated, emphasizing the ongoing risks in the cryptocurrency space.
#Binance
#crypto2023
South Korean Allegations Sink SUI Token Price? 🇰🇷
The price of #sui token #dropped over 9% as South Korean regulators accused the Sui Foundation of supply manipulation.
SUI token saw a modest 1% recovery in the last 24 hours, falling from $0.41 to $0.37 within two days. The Sui Foundation strongly refuted these claims, emphasizing they had not sold SUI tokens since the initial distribution.
South Korean lawmakers, spurred by previous crypto issues, plan to regulate the industry further with new #legislation . SUI token's future remains uncertain amid these allegations and regulatory actions.
#Binance
#crypto2023
The price of #sui token #dropped over 9% as South Korean regulators accused the Sui Foundation of supply manipulation.
SUI token saw a modest 1% recovery in the last 24 hours, falling from $0.41 to $0.37 within two days. The Sui Foundation strongly refuted these claims, emphasizing they had not sold SUI tokens since the initial distribution.
South Korean lawmakers, spurred by previous crypto issues, plan to regulate the industry further with new #legislation . SUI token's future remains uncertain amid these allegations and regulatory actions.
#Binance
#crypto2023
US Nonfarm #payroll beat expectations, Bitcoin price dips
The US economy added 353K jobs in January, above expectations of 180K, raising concerns about #Fed tightening.
The US dollar surged, US stock futures plunged, and Bitcoin price #dropped to a low of $42,546.79.
Analysts believe strong payrolls could lead to a more #hawkish Fed, adding short-term pressure on $BTC .
#Write2Earn
The US economy added 353K jobs in January, above expectations of 180K, raising concerns about #Fed tightening.
The US dollar surged, US stock futures plunged, and Bitcoin price #dropped to a low of $42,546.79.
Analysts believe strong payrolls could lead to a more #hawkish Fed, adding short-term pressure on $BTC .
#Write2Earn
