$BTC WHY IS BITCOIN DUMPING?
1) IRAN-ISREAL WAR
YESTERDAY, IT WAS REPORTED THAT IRAN IS PLANNING TO ATTACK ISRAEL FROM THE IRAQI TERRITORY.
AS WE ALL KNOW, WAR IS BAD FOR BITCOIN AND CRYPTO
2) TECH GIANTS EARNINGS DISAPPOINTMENT
YESTERDAY, MICROSOFT AND META POSTED WEAKER THAN EXPECTED RESULTS
EVEN THOUGH THEY BOTH BEAT EXPECTATIONS, THE RISING COST ON AI CAUSED THEIR STOCK DUMP, THUS TAKING DOWN THE ENTIRE MARKET WITH IT
3) RISING BOND YIELD
10-YEAR NOTE IS NOW TRADING ABOVE 4.3%, WHICH HAS HISTORICALLY SUPPRESSED DEMAND FOR EQUITIES
4) CORE PCE RISING
CORE PCE ROSE SLIGHTLY ABOVE 2.7%, WHICH COULD PUSH THE FED TO BE A BIT MORE HAWKISH.
CONCLUSION
IMO, ALL THESE THINGS ARE JUST THERE FOR A TEMPORARY DUMP.
JUST LIKE UPTOBER, MOONVEMBER HAS STARTED WITH A DUMP, AND IT'LL END WITH BTC GOING ABOVE $80,000+.
