Few reasons behind #Bitcoin❗ Dropping?
🚨🚨🚨 $BTC 🚨🚨🚨
1️⃣Russia War Situation :
Risk-on assets are usually sold off first during times of war.
Following the drone attack on Russia, the likelihood of the Russia-Ukraine war escalating has increased.
2️⃣ETF_ETH Outflows :
#BitcoinETFs saw a net outflow of $127 million yesterday.This marks the largest daily outflow since August 6.
3️⃣Market Manipulation :
While the S&P 500 and NASDAQ saw gains, BTC dropped.
This indicates potential market manipulation, as some players might be trying to suppress BTC’s price.
In my opinion, smart money is accumulating heavily between the $50K-$65K range.
This is further supported by the fact that BTC exchange supply continues to hit new lows each week.
Once this accumulation phase is complete (likely by the end of September), a #BTC☀ breakout is expected 🚀📈
