WHY BITCOIN DUMPED BELOW $56K?
$BTC BROKE THE $56K MARK TODAY TO HIT A NEW WEEKLY LOW OF $55,600
HERE ARE SOME OF THE REASONS BEHIND BTC DUMP
1) THE US STOCK MARKET CRASH
S&P 500 DUMPED 2.1% TODAY
NASDAQ DUMPED 3.26%
NVIDIA DUMPED NEARLY 10% DUE TO DOJ SUBPOENA
THE REASON BEHIND STOCK MARKET CRASH IS ECONOMIC SLOWDOWN ESPECIALLY THE JOB DATA
2) JAPAN STOCK MARKET DUMP
IT SEEMS LIKE THE YEN CARRY TRADE HAS NOT COMPLETELY UNWOUNDED
THIS IS WHY JAPAN STOCK MARKET DUMPED TODAY WHICH DRAGGED GLOBAL MARKETS TOO
3) MASSIVE OUTFLOW
BITCOIN ETFs HAD A NEW OUTFLOW OF $288 MILLION YESTERDAY
THIS IS THE LARGEST OUTFLOW FOR BITCOIN ETFs IN 4 MONTHS
4) MASSIVE LIQUIDATIONS
IN THE LAST 24 HOURS, $170M WORTH OF LONGS HAS BEEN LIQUIDATED
LIQUIDATIONS CAUSED EXCHANGES FORCE SELLING YOUR COINS WHICH RESULTS IN EVEN BIGGER DUMP
AS EXPECTED, SEPTEMBER IS TURNING OUT TO BE A BAD MONTH FOR BTC AND CRYPTO
I'M JUST HOPING THAT BTC DOESN'T MAKE A NEW LOW HERE
REMEMBER AFTER SEPTEMBER, Q4 WILL START WHICH HAS BEEN THE MOST BULLISH FOR BITCOIN AND CRYPTO.
