Why is Bitcoin on a downward trend?
BTC's value dropped 6% since Monday ๐
This happened after comments from Fed policymakers suggesting prolonged high interest rates ๐บ๐ธ
Decrease in expected this year is less likely ๐
High rates boost the dollar index by 1.00% in a week ๐
Pushing the 10-year US Treasury note up โฌ๏ธ
This adversely affects BTC ๐
Capital inflows into ETFs remain low ๐
Only Bitwise fund got $11.5 million on 05/08 ๐ฐ
Whales are buying when BTC dips ๐
Santiment data shows wallets with 1โ10k BTC accumulated 15k BTC worth $941m in 24 hrs ๐ผ
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