⚠️Why Are Cryptocurrencies Falling?
Spot Gold price quickly fell by 3 percent and fell as low as $2,306. In addition to this decrease, it decreased to $#Bitcoin 69,300. The data, which came 1 hour before the US markets opened, contained worrying details about the economy. After the last good data, Non-Farm Employment data came in more than 20% above expectations. Wage increases increased by 0.4% monthly, indicating the continuation of demand inflation.
💡A few seconds ago, the drop of $BTC led to a test of $69,000. Before December, there was a certain possibility that the Fed would cut interest rates, but this too was overturned. Half of the investors now say that there may be a rate cut in September. If we see strong net outflows in the last ETF channel after the stock market close, this could trigger unpleasant movements for altcoins over the weekend. A few hours ago, we gave the example of BNB Coin at $700 and talked about the risk of falling to $635. It has already dropped to $670.
