đ#Bitcoinfell 10.8% from August 25-27 after surpassing $65,000. Fears of a US economic recession and excessive optimism in the stock market were the main reasons.
đ BTC recovered to the $58,500 support level but investor sentiment was still heavily affected. The index measuring investor confidence fell to a 10-month low.
đ Goldman Sachs warns against excessive optimism despite volatile economic data. BTC volatility increased to 65% in August, much higher than the previous range of 24%-52%.
đ BTC futures premiums fell below 5% on August 27, but have since recovered to 6%. However, total BTC futures open interest has decreased by 4% since August 26.
đ Forced liquidations wiped out $102 million in BTC long positions in 48 hours. This is still much smaller than the August 5 incident.
đ Stablecoin demand in China remains neutral, with no signs of a sharp increase. BTC at $59,000 is not causing panic among investors, but it is not surprising that the $64,000 support level failed to hold.
đŹ What do you think about this situation? Comment and share your opinion!#Crypto#Blockchain#Finance#BTC
