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.