🚨🚨Btc Down why?😱😱

👉The cryptocurrency market is experiencing a downturn today for several reasons. One major factor is the release of 1 billion XRP tokens into circulation, which has increased liquidity but also raised concerns about oversupply and a potential drop in the token's value. This event has contributed to broader uncertainty in the market, leading to cautious investor behavior

👉🏿Additionally, bearish trends in Bitcoin have persisted, with the price fluctuating between $43,000 and $38,000. Technical indicators like MACD and Bollinger Bands suggest that Bitcoin is in a consolidation phase, similar to patterns seen before previous surges. However, short-term holders have been selling off their assets, adding to market volatility.

Another factor is the stagnation of inflows into Bitcoin ETFs, with key funds like BlackRock seeing a halt in their streak of positive inflows. This has further dampened investor sentiment

These factors combined are driving the market down, although some investors are optimistic that October ("Uptober") could see a recovery, especially if macroeconomic factors like potential interest rate cuts and Bitcoin ETF approvals come into play

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