Today, #Bitcoin plummeted to $58,000, with $205.46M worth of longs liquidated in the last 12 hours. This sharp drop has left many wondering if the dump will continue or if we’re nearing the end of this downward trend.
🔻 Bitcoin ETF: We just saw the 𝗛𝗶𝗴𝗵𝗲𝘀𝘁 𝗢𝘂𝘁𝗳𝗹𝗼𝘄 since August 6, signaling that investors are pulling out significant amounts, adding further pressure to the market.
📊 Historical Patterns: As I mentioned yesterday, September has historically been a tough month for #BTC. We can expect further corrections based on past performance.
📌 Caution Ahead:
Avoid taking unnecessary leverage in this volatile market. Whales can easily manipulate prices, leading to large-scale liquidations that particularly affect retail traders.
Stay vigilant and manage risk carefully during these uncertain times!
