$BTC The crypto market is dumping on June 18, 2024, for several reasons:
- Malaysian authorities cracking down on crypto investors to avoid tax
- The U.S. Securities and Exchange Commission (SEC) vs. Ripple case
- Stronger than expected U.S. jobs data
- Increase in unemployment rate
- Odds of a rate cut by the Federal Reserve lowered
- Risk-off mode among investors
- Over $380 million in liquidations of long positions versus short ones
- Bearish divergence from the RSI
- Economic and regulatory uncertainty
- High inflation rates in the U.S. and the U.K.
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