WHY IS BITCOIN DUMPING?
Â
TODAY BITCOIN DUMPED BELOW
$60,000, CAUSING OVER $260
MILLION IN LONG LIQUIDATIONSÂ
Â
HERE'S WHY BTC DUMPED
Â
1) UNEMPLOYMENT RATE RISING
Â
- YESTERDAY, THE US UNEMPLOYMENT RATE CAME AT 4.3% WHICH WAS HIGHER THAN EXPECTEDÂ
Â
- HIGH UNEMPLOYMENT INDICATES THAT THE US ECONOMY COULD BE HEADED TOWARDS RECESSION, WHICH CAUSED THE STOCK MARKET CRASH ALONG WITH CRYPTO
Â
2) JAPANESE YEN STRENGTHENINGÂ
Â
- BOJ (BANK OF JAPAN) RAISED THE INTEREST RATE FOR THE FIRST TIME IN 17 YEARS
Â
- THIS IS CAUSING THE INVESTORS TO PULL THEIR MONEY OUT OF THE US EQUITIES AND OTHER RISK-ON ASSETSÂ
Â
- THE REASON IS THAT BEFORE THE INTEREST RATE RISE, IT COSTED NOTHING TO BORROW YEN, BUT NOW IT DOES
Â
3) WWIII FEAR
Â
- FOR THE 5TH TIME IN 2024, THERE'S FEAR OF WWIII
Â
- DURING TIMES OF UNCERTAINTY, INVESTORS CHOOSE NOT TO HOLD RISK-ON ASSETS, WHICH IS CAUSING THE DUMP
Â
4) MT. GOX AND GENESIS DISTRIBUTIONÂ
Â
- MT. GOX BTC DISTRIBUTION IS NEARING AN END, BUT NOW GENESIS DISTRIBUTION HAS STARTEDÂ
Â
- YESTERDAY, THEY SENT OVER $1B WORTH OF BTC WHICH MARKET SENSED AS AN UPCOMING DUMP
Â
IMO, ALL OF THESE EVENTS WILL PUSH THE FED TO ACT FASTER AND RATE CUTS WILL START.
Â
ONCE THE FEAR CALMS DOWN MARKET WILL REBOUND AND THE PARABOLIC RUN WILL BEGIN đĽ
MARKET ONLY NEEDS 3 MONTHS TO SEND EVERYTHING.
#BTCdump #MarketUpdate #July_NonFarmPayrolls_Shock #US_Job_Market_Slowdown