The seismic movement was hard to miss. Bitcoin ($BTC) plunged from around 63k to approximately 59k within a single hour. What exactly sparked this dramatic shift?
Speculations abound, from tensions in the Iran-Israel conflict to looming reminders of the impending Halving event. Yet, the truth is undeniable: Bitcoin will encounter significant crashes in the near future, and today's events provide merely a glimpse into the mounting pressure on Bitcoin's valuation.
In the past hour alone, over 10,000 BTC (equivalent to roughly $600 million USD) were exchanged in a frantic bid to stave off disaster. Yes, half a billion dollars—a staggering sum. Why such urgency? Dropping below 58k spells danger, triggering massive liquidations.
Recall the days of Bitcoin's exuberance above 70k? Those who bought on margin at those lofty heights, anticipating an ascent, are now faced with forced selling should the price dip below 58k.
And what follows when forced sales commence? Bitcoin's value descends further, setting off a domino effect of liquidations, until the crash exhausts its destructive momentum.
The recent flurry of 10,000 BTC trades wasn't mere coincidence; it was a calculated effort to delay the inevitable crash. But can one indefinitely stem the flow from a ruptured dam? Sooner or later, the structure will yield. And that tipping point will unveil the true crash.
Once again, this impending Halving mirrors its predecessors. Once again, the market braces for the birth of a robust and splendid Bull Market.
Stay vigilant and secure.
