After Trump's speech, everyone expected the road to $1 million for 1 $BTC

But it let us down 😭

Only during the last 24 hours has #BTC lost 4% of it's value, ETH is -1.3%, and even #Solana is -5.25%

What caused this dip? 👇

1️⃣ US moving money

According to the #Arkham data, the U.S. Department of Justice moved $2 billion in Bitcoin.

At that point, the price dropped from $70K to $67K and still sits below.

2️⃣ Kamala Harris poll

Now, the difference between Harris and Trump is only 2 points. In comparison, Trump was ahead of Biden for 4-6 points.

The reason why it matters is simple: Kamala thinks of Gary Peters as a VP. He's anti-crypto person.

Gary co-sponsored the law that will fight money laundering through digital assets. Also, he supported rolling back regulations for banks to hold crypto.

Plus, he led the investigation in how crypto can be used in cybercrime.

3️⃣ #Ethereum ETF outflow

The first day of it was quite good. But after it, the fun began.

$1.7B outflowed from #Grayscale ETF.

In the first week, the whole market got the outflow of $341M.

Only in July 29th, $100M was withdrawn. Now the net outflow is $439M

4️⃣ Uncertainty before FOMC

Crypto market is always more volatile before FOMC meetings. And this one is not the exception.

The unemployment rate rises, and can probably reach a 2 years high. So there's the possibility for rate cuts.

But some analysts think it will be postponed to the September's meeting. Who knows.

$ETH