🚨Why did BTC suddenly dump? 🚨
El Salvador is planning to amend its Bitcoin law as part of a new agreement with the IMF.
Under this deal, El Salvador will secure access to $3.3 billion in loans from the IMF, World Bank, and Inter-American Development Bank.
Explanation:
The sudden drop in Bitcoin’s price (or “dump”) may be linked to news about El Salvador adjusting its Bitcoin policies to comply with the terms of a new loan agreement. This move could signal changes in the country’s Bitcoin strategy, potentially affecting market sentiment. The $3.3 billion loan package from global financial institutions suggests that El Salvador is balancing its pro-Bitcoin stance with international financial support, which might have raised uncertainty or concern in the crypto market.
