Bitcoin pull back to 58000$BTC ...
Therr are many readons behind it..
Traders says that bitcoin could to 55000 but fed policies led them to set it and avoid more dip.
It is a major droo upto 4%.. while other currencies also face major drop with bitcoin..
This decline comes after the release of U.s CPI data..the data is positive and stock market is also shows positive reaction.
Much of drop came after July where CPI data increased. Exchange and whales took profit from this drop and retailers are in loss. Traders now expect that matket could drop to $55000. The momentum sell off continue and they want to drop $55000.
Anothet reason is about etf of $ETH .. therr was a lot of outflows which resulted the price to come down moer.. ETFs when occur there is a major drop..
lets see what will $BTC do in future.. as u can say that august is a red month.. we hope that it can turn into green and btc will go upto $65000.
