🚨 $BTC CRASHES TOWARDS $73,600 — WHAT'S BEHIND THE SELL-OFF?
Bitcoin is trading around $73,600, extending its weekly decline. Several factors are putting pressure on the crypto market:
🔴 1. Hotter US Inflation: October CPI came in at 0.4% against 0.3% expected, increasing concerns about further Fed rate hikes.
🔴 2. Massive Liquidations: Around $723 million in crypto positions were liquidated, including nearly $570 million in leveraged long positions.
🔴 3. Bitcoin ETF Outflows: US spot Bitcoin ETFs continue to experience significant withdrawals, reflecting weaker institutional demand.
🔴 4. Whale Selling: Large Bitcoin holders reportedly reduced their holdings by more than 34,000 BTC over the past week.
🔴 5. Regulatory Uncertainty: Changing US regulatory expectations are adding to market concerns.
#HotCPIDecemberHikePriced #BitcoinFiveWeeklyLosses
Bitcoin is trading around $73,600, extending its weekly decline. Several factors are putting pressure on the crypto market:
🔴 1. Hotter US Inflation: October CPI came in at 0.4% against 0.3% expected, increasing concerns about further Fed rate hikes.
🔴 2. Massive Liquidations: Around $723 million in crypto positions were liquidated, including nearly $570 million in leveraged long positions.
🔴 3. Bitcoin ETF Outflows: US spot Bitcoin ETFs continue to experience significant withdrawals, reflecting weaker institutional demand.
🔴 4. Whale Selling: Large Bitcoin holders reportedly reduced their holdings by more than 34,000 BTC over the past week.
🔴 5. Regulatory Uncertainty: Changing US regulatory expectations are adding to market concerns.
#HotCPIDecemberHikePriced #BitcoinFiveWeeklyLosses
