WHY IS BITCOIN DUMPING?
TODAY BITCOIN DUMPED BELOW
$49,000, CAUSING OVER $600
MILLION IN LONG LIQUIDATIONS
HERE'S WHY BTC DUMPED
1) UNEMPLOYMENT RATE RISING
- THE US UNEMPLOYMENT RATE CAME AT 4.3% WHICH WAS HIGHER THAN EXPECTED
- HIGH UNEMPLOYMENT INDICATES THAT THE US ECONOMY COULD BE HEADED TOWARDS RECESSION, WHICH CAUSED THE STOCK MARKET CRASH ALONG WITH CRYPTO
2) JAPANESE YEN STRENGTHENING
- BOJ (BANK OF JAPAN) RAISED THE INTEREST RATE FOR THE FIRST TIME IN 17 YEARS
- THIS IS CAUSING THE INVESTORS TO PULL THEIR MONEY OUT OF THE US EQUITIES AND OTHER RISK-ON ASSETS
- THE REASON IS THAT BEFORE THE INTEREST RATE RISE, IT COSTED NOTHING TO BORROW YEN, BUT NOW IT DOES
3) WWIII FEAR
- FOR THE 5TH TIME IN 2024, THERE'S FEAR OF WWIII
- DURING TIMES OF UNCERTAINTY, INVESTORS CHOOSE NOT TO HOLD RISK-ON ASSETS, WHICH IS CAUSING THE DUMP
4) MT. GOX AND GENESIS DISTRIBUTION
- MT. GOX BTC DISTRIBUTION IS NEARING AN END, BUT NOW GENESIS DISTRIBUTION HAS STARTED
- YESTERDAY, THEY SENT OVER $1B WORTH OF BTC WHICH MARKET SENSED AS AN UPCOMING DUMP
IMO, ALL OF THESE EVENTS WILL PUSH THE FED TO ACT FASTER AND RATE CUTS WILL START.
ONCE THE FEAR CALMS DOWN MARKET WILL REBOUND AND THE PARABOLIC RUN WILL BEGIN 🔥
MARKET ONLY NEEDS 3 MONTHS TO SEND EVERYTHING.
