🐻 Why is Bitcoin Falling?
BTC price has fallen by 6% since
from Monday and this comes amid comments from Fed policymakers that interest rates will remain at high levels longer than previously thought, and the likelihood of a decrease in is falling this year.
🇺🇸 High rates are driving the dollar index higher, up 1.00% in 7 days, pushing the 10-year US Treasury note higher.
which negatively affects BTC.
📉 Capital inflows into ETFs remain at very low levels and on 05/08 only the Bitwise fund received an inflow into ETFs, which amounted to $11.5 million.
🐋 Meanwhile, whales are buying on dips, because according to data
Santiment, wallets with balance 1–10 thousand BTC have accumulated more than 15,000 BTC worth almost $941 million in the last 24 hours.
