Why has BTC been falling again and again? Is it suitable for bargain hunting?
In recent days, the market performance of Bitcoin (BTC) has attracted widespread attention. There are two important factors behind the price fluctuations:
1). Market selling pressure: A large number of long positions were liquidated, causing the price of Bitcoin to fall to its lowest point since March. In the past 24 hours, about $665 million of cryptocurrencies were liquidated, of which $222 million were long positions.
2) The German government sold its Bitcoin reserves: The German government has continued to sell its Bitcoin reserves in the past month, which has had a negative impact on market sentiment.
Under current market conditions, bargain hunting needs to be treated with caution. If you decide to enter the market, it is recommended to enter in batches