Why Is #Bitcoin Dumping?
1) Iran-Israel War Situation
Just a few minutes ago, the former Mossad intelligence chief said that they could strike Iran nuclear facilities.
This is a massive statement and could even lead to the WWIII situation.
This is causing panic in the market, which is dumping BTC and crypto.
2) Powell turning hawkish
Yesterday, Powell said that they're still not very confident about inflation and could keep the interest rates for longer.
The market was anticipating a rate cut in June, but now there's even a 1% probability of a rate hike.
3) Retail greed
Retail has become too greedy and longing every every dip with high leverage.
Despite recent corrections, the funding rate was still positive, which shows that the market is still greedy.
Unless and until we see a full reset or even negative funding for some time, the market could keep going sideways/down
Follow me for more 🙏😞
