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
109,496.77
+0.21%
ETH
2,796.4
+4.48%
BNB
670.02
+1.40%
