$BTC Why did Bitcoin drop in price ?
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Top 5 reasons :
+ Summer vacations. People lock in profits. usually buy back in Sep to Dec.
+ EU banned unlicenced stable coins , effective on 1. July 2024. USDC got first license. Tether did not, BUT most the volume was in tether, so people will shift to USDC , and they need to sell and buy. IF true, BTC will bounce.
+ Somebody is liquidating large amount.
+ Miners may lock in profits to buy new equipment for AI computing services, because they want a transition to that now.
+ FOMO from weak hand that trade Bitcoin , instead of trading 10-20 loaned coin, with Bitcoin as the security deposit.
+ Avalanche FOMO sales + automatic stop loss liquidations.
+ Algos trading rebalancing trades to cover losses in other coins that dropped more than Bitcoin.
I assume low volatility and price stagnation after the sell off.
Remember : Central banks did communicate money printing with cheap loans will resume soon !!!
ADD YOuR reasons in the comments.
