🚨 Why Did Bitcoin Dump? 🚨
🔹 1) Iran-Israel Conflict 🌍Rising geopolitical tensions as Iran may plan an attack on Israel from Iraqi territory. War and instability usually impact Bitcoin and crypto markets negatively.
🔹 2) Disappointing Tech Earnings 💻📉Microsoft and Meta posted earnings with rising costs due to AI investments. Despite beating expectations, their stock prices fell, pulling down the entire market, including crypto.
🔹 3) Rising Bond Yields 📈💵The 10-year Treasury note is trading above 4.3%! Investors are shifting to safer options, leaving riskier assets like Bitcoin affected.
🔹 4) Core PCE Increase 💸📊A slight rise in the Core PCE inflation measure (above 2.7%) could mean a more hawkish Fed stance, which impacts both equity and crypto markets.
💡 Conclusion 💡
🔹 These factors are contributing to a temporary dip in BTC's price.
🔹 After "Uptober," watch for "Moonvember" 🌕 as BTC could aim for $80,000+ 🚀.
Stay tuned for market updates, and hold strong! 💪📈
