WHY IS BITCOIN DUMPING?
TODAY BITCOIN DUMPED BELOW $58,000, CAUSING OVER $260 MILLION IN LONG LIQUIDATIONS.
HERE'S WHY BTC DUMPED !!
1) UNEMPLOYMENT RATE RISING
- THE US UNEMPLOYMENT RATE CAME AT 4.3% WHICH WAS HIGHER THAN EXPECTED
- HIGH UNEMPLOYMENT INDICATES THAT THE US ECONOMY COULD BE HEADED TOWARDS RECESSION, WHICH CAUSED THE STOCK MARKET CRASH ALONG WITH CRYPTO
2) JAPANESE YEN STRENGTHENING
- BOJ (BANK OF JAPAN) RAISED THE INTEREST RATE FOR THE FIRST TIME IN 17 YEARS
- THIS IS CAUSING THE INVESTORS TO PULL THEIR MONEY OUT OF THE US EQUITIES AND OTHER RISK-ON ASSETS
- THE REASON IS THAT BEFORE THE INTEREST RATE RISE, IT COSTED NOTHING TO BORROW YEN, BUT NOW IT DOES
3) WWIII FEAR
- FOR THE 5TH TIME IN 2024, THERE'S FEAR OF WWIII
- DURING TIMES OF UNCERTAINTY, INVESTORS CHOOSE NOT TO HOLD RISK-ON ASSETS, WHICH IS CAUSING THE DUMP
4) MT. GOX AND GENESIS DISTRIBUTION
- MT. GOX BTC DISTRIBUTION IS NEARING AN END, BUT NOW GENESIS DISTRIBUTION HAS STARTED
- YESTERDAY, THEY SENT OVER $1B WORTH OF BTC WHICH MARKET SENSED AS AN UPCOMING DUMP
$BTC $BNB $ETH #Babylon_Mainnet_Launch
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