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Hello guys ,I'm going to buy
dock
,how everyone think good move or not ?
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RIF# How do you think guys about this coin ?
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The drop in cryptocurrency prices on June 23, 2024, can be attributed to several key factors: 1. **Federal Reserve Statements**: Comments by Minneapolis Federal Reserve President Neel Kashkari regarding only one rate cut in 2024 negatively impacted the markets. This forecast contradicted investors' expectations of at least two rate cuts, leading to a rise in U.S. Treasury yields and reducing the attractiveness of riskier assets like cryptocurrencies 2. **Outflows from Bitcoin ETFs**: There have been significant outflows from U.S.-based Bitcoin exchange-traded funds (ETFs) since June 10, amounting to approximately $500 million. These outflows have increased selling pressure on Bitcoin and other cryptocurrencies 3. **Stronger U.S. Dollar**: The U.S. dollar's strength against a basket of major currencies reflects a shift towards safer assets. This shift is driven by mixed economic data from the U.S. and the Federal Reserve's reduced likelihood of multiple rate cuts in the coming year 4. **Long Position Liquidations**: The crypto market saw a significant liquidation of long positions (bets on price increases) in the past 24 hours, which added to the selling pressure and further drove down prices. Long position liquidations force traders to sell at a loss, increasing the supply of cryptocurrencies on the market and depressing prices These combined factors have contributed to the current decline in the cryptocurrency market.
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