how long will it take for the BTC to recover like this, admin?
Post
Koiisyourname
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Good morning everyone!
After the recent interest rate cuts, both stocks and gold have surged significantly, reaching new ATHs and are still rising, while the dollar is slightly declining.
However, with Bitcoin, the reason why the trend is currently strong but suddenly dropped continuously from 117.8 to 115.1 in one day without any small-scale adjustment???
It's really puzzling! But I just checked the news and there are some side issues leading to a "mass sell-off."
1. The SEC has just approved a new law regarding ETFs - helping to expedite the approval process for ETFs - this will increase the capital flowing into the crypto market. This is extremely good news that I read since yesterday morning but didn't pay attention to because it's quite good for the long term. However, there is a negative aspect leading to "sell the news" taking advantage of good news to offload.
2. The CEO of Bit Digital warned that Bitcoin mining could collapse. This news is quite bad for Bitcoin but it's just an excuse for market makers and institutions to sell.
3. A huge amount of BTC stealthily entered the exchange with about 12000 BTC - causing profit-taking pressure, raising concerns about a deeper correction.
4. BTC dropped below support levels of 116.4 and 115.4, triggering AI bots to close loss-cutting orders - causing a domino effect collapse but no funds were pumped in to support.
This information was compiled from CoinMarketCap, feel free to refer to it.
Nonetheless, other markets are quite risky, while the crypto market has its own style :)))
$BTC
After the recent interest rate cuts, both stocks and gold have surged significantly, reaching new ATHs and are still rising, while the dollar is slightly declining.
However, with Bitcoin, the reason why the trend is currently strong but suddenly dropped continuously from 117.8 to 115.1 in one day without any small-scale adjustment???
It's really puzzling! But I just checked the news and there are some side issues leading to a "mass sell-off."
1. The SEC has just approved a new law regarding ETFs - helping to expedite the approval process for ETFs - this will increase the capital flowing into the crypto market. This is extremely good news that I read since yesterday morning but didn't pay attention to because it's quite good for the long term. However, there is a negative aspect leading to "sell the news" taking advantage of good news to offload.
2. The CEO of Bit Digital warned that Bitcoin mining could collapse. This news is quite bad for Bitcoin but it's just an excuse for market makers and institutions to sell.
3. A huge amount of BTC stealthily entered the exchange with about 12000 BTC - causing profit-taking pressure, raising concerns about a deeper correction.
4. BTC dropped below support levels of 116.4 and 115.4, triggering AI bots to close loss-cutting orders - causing a domino effect collapse but no funds were pumped in to support.
This information was compiled from CoinMarketCap, feel free to refer to it.
Nonetheless, other markets are quite risky, while the crypto market has its own style :)))
$BTC
