Experienced traders understand: markets are often driven by internal mechanics such as liquidity and participant behavior. You can see this clearly — the skew in the derivatives market (towards longs) was a key factor that led to the decline. Thank you for the precise observation!
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Thanks to Jerome Powell (((
The main reason for this fall was the statement by the Chairman of the US Federal Reserve System Jerome Powell about abandoning the idea of storing cryptocurrency as a national strategic reserve.
This statement caused concern among investors, which led to massive sales and a decrease in the value of Bitcoin.
The total capitalization of the cryptocurrency market in a day decreased by 3.8%, to $3.82 trillion, and the volume of trading in digital coins amounted to $287 billion.
In addition, over the past 24 hours, exchanges liquidated the positions of 167 thousand traders for a total of $420 million, which increased pressure on the market and contributed to a further decline in prices.
The main reason for this fall was the statement by the Chairman of the US Federal Reserve System Jerome Powell about abandoning the idea of storing cryptocurrency as a national strategic reserve.
This statement caused concern among investors, which led to massive sales and a decrease in the value of Bitcoin.
The total capitalization of the cryptocurrency market in a day decreased by 3.8%, to $3.82 trillion, and the volume of trading in digital coins amounted to $287 billion.
In addition, over the past 24 hours, exchanges liquidated the positions of 167 thousand traders for a total of $420 million, which increased pressure on the market and contributed to a further decline in prices.
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