🐻Why the Market is Falling
Over the past 24 hours, the crypto market has fallen, at which time BTC recorded minus 4%, and ETH about 8%. The fall was caused by various reasons: 1) The collapse in the US stock market, which yesterday lost $1.1 trillion due to poor quarterly reports from Tesla and Google. 2) $133 million worth of capital outflow from Ethereum ETF. 3) FUD Mt.Gox, the firm contributed over $2 billion in BTC to the Bitstamp exchange in the last 24 hours as part of payments to creditors.
📉The fall in the crypto market was intensified by liquidations, which over the last 24 hours exceeded $300 million, most of which occurred on Long positions in BTC and ETH.
✅ However, the market remains optimistic as Bitcoin ETF recorded inflows on Wednesday
in the amount of $44.6 million, and the Ethereum ETF trading volume amounted to $951 million on the second day
⚡️The main crypto conference of the year, Bitcoin 2024, starts today, which will be attended by many famous personalities, including Michael Saylor, as well as Trump, who will speak on Saturday, July 27.
