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