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.

#cryptonews #BTC☀

$BTC

image
BTC
Created with Highcharts 9.1.1
109,496.77
+0.21%

$ETH

image
ETH
Created with Highcharts 9.1.1
2,796.4
+4.48%

$BNB

image
BNB
Created with Highcharts 9.1.1
670.02
+1.40%