Recently btc dumped from 63800 to 60600 beacuse of Fed chairman Jerome Powell speech however the summary of the speech is that the labour is strong inflation is getting better and the overrall view of market is great đđ
but why did btc fall yesterday despite the positive outlook from Jerome Powell ( fed reserves chairman ) so the reason is most of mid sized and big investors take out there money when Jerome Powell speeches because his words can have a drastic change in the market
The reason is most of the people took out there money because of Jerome Powells speech which resulted in the dip of btc
The money is starting to flow in again and we will see bull run soon
Btc was making higher high to 63800 a correction was required to make another higher high the market cannot go up in a constant direction
While July is the month which has shown the most amount of btc etf inflows from fidelity BlackRock Vaneck etc if these organizations are putting money inside btc btc cannot dump because they control the whole United States economy they will never let btc down they are planning for the ATH