🚨 Every time Bitcoin fluctuates strongly, the cryptocurrency market witnesses a wave that sweeps away a series of assets. Why does Bitcoin have such a terrible influence? And when the market's big brother drops in price, what happens to the remaining coins?
1. 💰 Bitcoin - The Market's Powerful Leader
Bitcoin (BTC) is considered the "big guy" of the cryptocurrency market. With its huge capitalization and pioneering role, BTC has a profound influence on investor psychology. When BTC increases in price, many investors feel optimistic and tend to invest heavily in altcoins 🌐. However, when BTC plummets, the entire market will also be greatly affected, causing the value of the remaining coins to decrease 🚀📉.
2. 📊 Bearish Signs and Technical Factors
The 3-day price chart shows that BTC has had a strong growth phase but is losing momentum. Technical indicators (MA, Bollinger Bands…) indicate that BTC is facing a major resistance level 🔴.
Highest price 24h: 91,790.00 USDT 🔝
Lowest price 24h: 86,919.03 USDT 🔻
These data suggest that BTC is in a short-term downtrend, pay attention when trading ⚠️.
3. 🌪️ Domino effect - One decline drags the whole market down
The domino effect is a common phenomenon in the cryptocurrency market 🌐. When Bitcoin drops in price, panic and a wave of selling spread quickly to altcoins. In the past 24 hours, the trading volume reached 56,152.53 BTC or 5.03 billion USDT 📈, showing that the market is experiencing a period of strong volatility, but selling pressure is dominant.
4. 💡 Conclusion: Maintain a stable mentality and investment strategy
Bitcoin price declines are inevitable in this volatile market 💥. However, investors need to stay calm, not let panic dominate and continue to pursue a long-term investment strategy 📅.