Market Experts Explain the Reason for the Latest Drop in Bitcoin (BTC)!
The second assassination attempt against Trump has had a bad impact on the crypto market.
QCP Capital, a successful analytics company, is on the agenda with its daily analyses it shares about the cryptocurrency sector. With the start of the new week, experts continued to share reports. In their latest report, analysts say that it will be an eventful week for the crypto market.
In the shared report, experts also compiled the events that cryptocurrency investors should follow specifically for this week, and provided the following information:
Bitcoin (BTC), which had difficulty exceeding the $ 61,000 level over the weekend, fell even further after the second assassination attempt against Trump.
This downward movement was further exacerbated by the liquidation of $ 70 million long positions during a period of weak liquidity before the opening of Asian markets.
Despite the recent declines, it should not be forgotten that BTC rose by 13.8% from $ 58,000 to $ 66,000 during the first assassination attempt against Trump on July 13.
Could we see a similar rally in the crypto space this week?
It’s definitely going to be an eventful week for crypto. The Token2049 event is underway and the FOMC meeting is on Wednesday (September 18). Uncertainty continues over whether interest rates will be cut by 25bps or 50bps.
As the first Fed rate cut of this cycle approaches, market tensions are rising and any unexpected macro data will have a bigger impact.
