Analyst Reveals Reasons for Bitcoin's Decline
CryptoQuant analyst Maartunn explained that the decline in Bitcoin is associated with high selling volumes on Binance.
The surge in sell orders led to a decrease in purchasing power, increasing pressure on the price.
The rise of Bitcoin was due to leverage, which made traders vulnerable to liquidations.
The decline occurred against a backdrop of 'extremely greedy' sentiments, which heightened the risk of excessive overconfidence.
BTC
101,540.01
-0.81%
ETH
2,253.15
-0.28%
BNB
622.2
-1.39%
