😱🫨 **Market Shocker: The Real Reason Behind Bitcoin and Altcoin Declines!** 🫨😱

**Bitcoin’s Sharp Decline: What Happened?**

While Bitcoin seemed stable, a sharp decline in the evening hours dragged its price down to $68,000. What’s behind this sudden drop?

**Market Movements:**

- **Bounce Back:** Bitcoin rebounded to touch $72,000 earlier today.

- **Sharp Decline:** At 15:30 UTC, the price fell sharply to $68,400.

**Why is Bitcoin Falling?**

1. **US Employment Data:**

- **Unexpected Increase:** Agricultural employment data showed a rise of 272,000 jobs in May, far exceeding the expected 182,000.

- **Impact on Fed Policies:** The strong employment data diminished hopes for a Fed rate cut in July, strengthening the dollar. Markets now predict a 45% chance of a rate cut in September, down from 56% before the data release.

2. **Roaring Kitty’s Livestream:**

- **GameStop Phenomenon:** During a YouTube live broadcast watched by over 600,000 people, Roaring Kitty made no sensational announcements as expected.

- **Market Reaction:** GameStop shares plummeted over 40%, causing the meme coin with the same name to drop more than 50%. This led to double-digit losses in many meme coins.

3. **Leveraged Position Losses:**

- **Widespread Liquidations:** Bitcoin’s decline triggered losses in leveraged positions, totaling $400 million.

- **User Impact:** Nearly 150,000 users faced losses in derivatives, according to Coinglass.

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Stay informed and trade wisely! 📉🚀