#美国PCE数据将公布 #暴跌原因
The cryptocurrency market will fall sharply in June 2024, and the four reasons that novices must read!
Dear new friends in the cryptocurrency market, are you confused by the recent drop in the price of the currency? Don't worry, I will explain the four reasons behind this to you, so that you can understand what happened in the cryptocurrency market in seconds!
Reason 1: The words of the "big boss" of the Federal Reserve are chilling
There is a "big boss" in the Federal Reserve named Neil Kashkari. He said that there will only be one interest rate cut this year. This scared everyone a lot, because everyone thought that there would be two interest rate cuts. At this time, investors felt that something was wrong, and they felt that it was safer to put their money in US Treasury bonds, so they were not willing to buy those cryptocurrencies with higher risks.
Reason 2: The money in the Bitcoin ETF ran away
Did you know? Since June 10, the money in those Bitcoin-related funds (we call it ETF) has been flowing out, almost $500 million! With so much money flowing out, Bitcoin and other cryptocurrencies will definitely be under great pressure, and the price will fall even more.
Reason 3: The US dollar has become stronger, and everyone loves it
The US dollar has been particularly strong during this period, and everyone thinks it is very safe and wants to exchange their money for US dollars. Why? Because the US economic data and the Fed's policies make everyone think that the US dollar is more reliable. In this way, everyone is less willing to buy those cryptocurrencies with higher risks.
Reason 4: Some people sell coins at a loss
In the currency circle, some people like to bet on price increases, which we call "longs". However, these longs have lost money recently and have to sell their coins. As a result, there are more coins on the market and the price has fallen. It's like you opened a store, but you can't sell your things, so you can only reduce the price for promotion.
The decline in the currency circle this time is caused by these four major reasons. Investment is like this, there are ups and downs. Don't be discouraged, stay calm, and find the right opportunity to make a move!
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