👀 3 Reasons for the Recent Cryptocurrency Market Decline
1. Miners' revenue decreased by 55%, forcing them to sell more BTC to cover expenses. Additionally, more BTC is being transferred from miners' wallets to exchanges, which can pressure prices and often indicates sales.
2. There are no new issuances of USDT and USDC, meaning less new funds are entering the market, which can reduce liquidity and increase price volatility.
3. The outflow of funds from spot ETFs, such as Fidelity and Grayscale, also contributes, creating selling pressure on BTC.
