The market plunged. Who is selling the “value coins”?
Jessy, Golden Finance
On July 5, the crypto market experienced another big dive, with Bitcoin falling to around US$54,000, and more altcoins have even fallen below the lows of the 2022 bear market.
As Bitcoin continues to fall, altcoins have suffered panic selling. According to data from Coingecko, the global cryptocurrency market value has now fallen below $2.1 trillion, with a change of -7.81% in the past 24 hours.
The direct cause of this decline may be the massive selling pressure on Bitcoin, while the fundamental reason is the uncertainty of interest rate cuts at the macroeconomic level. When will the market turn around?
Selling pressure is high and macro expectations are weakening