WHY IS #BITCOIN AND CRYPTO CRASHING?

IN THE PAST 12 HOURS, BTC AND CRYPTO HAVE LOST OVER $100 BILLION IN MARKET CAP  

HERE'S WHY THIS HAPPENED  

AS WE KNOW, THE CRYPTO MARKET IS HIGHLY CORRELATED WITH THE STOCKS MARKET   

IN THE PAST 2 DAYS, ALPHABET AND TESLA REPORTED THEIR QUARTER EARNINGS.   

ALPHABET MISSED YOUTUBE AD REVENUE EXPECTATIONS WHILE TESLA REPORTED FALLING PROFITS  

THIS CAUSED A DUMP ON BOTH ALPHABET AND TESLA, WHICH RESULTED IN THE S&P 500 AND NASDAQ'S BIGGEST DUMP SINCE SEPTEMBER 2022.  

THE 7 LARGEST COMPANIES LOST $500 BILLION IN MARKET CAP, WHILE THE ENTIRE US STOCK MARKET LOST $1.1 TRILLION.

BUT THERE'S SOMETHING ELSE TOO BITSTAMP WILL START DISTRIBUTING MT. GOX BTC FROM TODAY IT IS EXPECTED THAT THEY'LL DISTRIBUTE OVER 35K BTC WORTH $2.25 BILLION THE MARKET USUALLY TRY TO PRICE IN THESE DUMPS,

SO BTC DIPPED BELOW $64K ETH DUMPED 4X MORE THAN BTC, AS IT ALSO EXPERIENCED A HUGE OUTFLOW.   IMO, THIS IS JUST A TEMPORARY DIP, AND THE MARKET WILL RECOVER SOON.  

SO, DON'T PANIC AND HODL TIGHT