Why Is Bitcoin Dumping?
$BTC was trading at $64,000 just
2 days ago, and today it crashed to
$58,000.
Here are a few reasons behind the
BTC dump
1) Russia war situation
Risk-on assets always get sold first
during a war situation.
After the drone attack on Russia,
it's highly probable that the Russia-
Ukraine war will escalate more.
2) #ETF_ETH outflows
#BitcoinETFs had a net outflow of
$127 million yesterday.
This is the highest daily outflow since
August 6.
3) Manipulation
S&P500 pumped, NASDAQ pumped,
but BTC dumped.
This is a clear sign of market
manipulation, as some entities are
willing to suppress the BTC price
IMO, smart money is accumulating
a lot between $50K-$65K level.
This can easily be explained by BTC
exchange supply hitting new lows
every week.
Once the accumulation phase is over
(probably by September end), BTC
breakout will happen 🚀
