It's no secret that most cryptocurrencies are closely related to Bitcoin and Ethereum. Once these two major coins begin to lose value, the entire market follows them.
🐳 Influence of Whales: Big players, or whales, can manipulate the market by buying up coins to increase their prices, and then selling them, causing them to plummet. When whales start selling BTC and ETH, it can cause panic selling among other investors, which intensifies the overall decline.
🤖 Impact of trading bots: Bots programmed to automatically trade using certain algorithms can amplify the effects of declines by selling assets in a panic, which further exacerbates the decline.
🌍 Global Connectivity: The cryptocurrency market is deeply interconnected. Many altcoins and tokens are linked to ETH through platforms and contracts, making them sensitive to any fluctuations in the price of Ethereum.
The cryptocurrency market is an ocean where “whales” and bots rule. We, small fish, can only try to catch the current and not fall into the net of manipulators. The main thing is to remain calm, analyze the situation and make informed decisions.
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