#MarketDownturn
The wave of decline in cryptocurrencies continues.. Bitcoin costs futures traders $440 million
The cryptocurrency fell to the level of $63,000 for these reasons!
Bitcoin's decline to the level of $63,000, down 12% in 7 days and more than 7% during Tuesday's trading, led to losses of more than $440 million for futures traders, with major liquidations on the Binance exchanges.
Renowned cryptocurrency analyst Michael van de Poppe warned investors of Bitcoin's downward skew, indicating potential downward pressure on the cryptocurrency.
Reasons for going down
Bob highlighted the upcoming Federal Open Market Committee (FOMC) meeting scheduled for tomorrow, Wednesday, which will have a major impact on the cryptocurrency market.
On the other hand, the Bank of Japan ended the era of negative interest rates, and for the first time in 17 years it raised interest rates.
This is accompanied by record outflows from the Gray Scale Fund. Bitcoin's decline caused more than $440 million to be liquidated for cryptocurrency futures traders betting on rising prices. Some are expected
Data indicates that most of the liquidations took place on Binance, worth $212 million