$BTC
Bitcoin experienced a correction today due to several key factors that influenced overall market:
1. Strong US Economic Data
- US employment data came in better than expected. This reinforced expectations that the Federal Reserve is likely to delay interest rate cuts.
2. Inflationary Pressures and Monetary Policy
- Continued inflationary pressures affect investor attitudes, as tight monetary policy often negatively impacts speculative assets such as Bnb
3. Massive Liquidations
- The crypto market often experiences large moves due to the liquidation of leveraged positions. When the price of Bitcoin falls below a certain level, large leveraged positions are liquidated, accelerating the decline.