REASONS FOR $BTC RECENT PRICE DECLINE
-Geopolitical tensions: Bitcoin's price fell after Israel was attacked by Iran, causing investors to shift away from riskier markets like cryptocurrencies and seek safe havens such as gold and the U.S. dollar.
-Closure of long positions: The closure of long positions in the Bitcoin futures market contributed to the price drop, with outflows totaling $55.1 million and $36.7 million on April 14 and 15, respectively.
-Withdrawals from Bitcoin ETFs: Global Bitcoin investment products saw outflows, indicating investor hesitancy and contributing to the downward pressure on Bitcoin's price.
-Market adjustments: The price drop can be attributed to a mix of market adjustments, including the unwinding of Bitcoin positions, which triggered a broader sell-off in the crypto market.
-Regulatory uncertainty: Rumors about the U.S. Treasury Department's plan to implement a mechanism to monitor the crypto market have contributed to the price drop.
-Federal Reserve's interest rate decision: The Federal Reserve's decision to raise interest rates has led to a decrease in Bitcoin price, as investors seek safer assets with higher yields.
-Post-Russia-Ukraine war effects: The ongoing conflict has caused investors to seek safe-haven assets, leading to a decrease in Bitcoin price.
-Instability in the U.S. banking system: The recent instability in the U.S. banking system has led to a decrease in investor confidence, causing Bitcoin's price to drop.
-Fear of inflation worldwide: The fear of inflation has led investors to seek safer assets, causing Bitcoin price to decrease.
-High interest rates in the U.S. and the UK: The high interest rates in the U.S. and the UK have led investors to seek safer assets with higher yields, causing Bitcoin price to drop.
-Collapse of the largest crypto exchange FTX: The collapse of FTX has led to a decrease in investor confidence, causing Bitcoin's price to drop.
-Bitcoin holders are accumulating less: Bitcoin accumulation has failed to keep up with the BTC issuance, leading to a decrease in price.