#BEARISH📉 vs #BULLISH 📈 Some important Candle stick #patte | CoinCrier på Binance Square

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#BEARISH📉 vs #BULLISH 📈 Some important Candle stick #pattern $BTC $ETH #Megadrop #CryptoTradingGuide 

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Why Market Crash Today ? Today, the cryptocurrency market’s losses mirror extreme selloffs across the global equity market, which have already caused over $1 billion in liquidations.The cryptocurrency market is on track to deliver its worst daily performance since the collapse of the FTX crypto exchange in November 2022, mirroring a global market rout. Yen carry trades hurt global risk sentiment On Aug. 5, the market capitalization of all crypto assets combined plunged by up to 15.80% to its six-month low of $1.694 trillion. Leading the losses were Bitcoin BTC tickers down $49000 and Ether ETH tickers down $2050 which together control over 70% of the overall crypto market share. At the core of these declines is the reducing appeal of the yen-dollar carry trades.In a typical carry trade, traders borrow funds in a low-interest currency (like the yen), exchange them for a high-interest currency (like the US dollar), and use the proceeds to buy stocks and bonds, among other assets. In an ideal setting, investors profit from the difference in interest rates.This strategy has yielded positive results for investors because of Japan’s near-zero rate policy compared to the US’s higher rates.However, on July 31, the Bank of Japan (BOJ) increased its interest rate to 0.25%, raising speculation of further hikes among traders. In contrast, the US Federal Reserve will likely start cutting interest rates in September due to rising unemployment and slower economic growth.As a result, the yen surged to its best levels versus the dollar since January 2024. This rapid appreciation has disrupted the profitability of the carry trade from the yen to the dollar. Descending Triangle Breakdown: Descending triangles are considered bearish reversal patterns when appearing in uptrends, characterized by their falling trendline resistance and horizontal trendline support. They typically resolve when the price breaks below the support trendline and falls by as much as the maximum distance between the resistance and the support trendlines. #MARKETDOWNTURN #MarketDownturn

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Why is the crypto market down today?

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Briefly about the situation in the crypto market. 🔽

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🐳 1,436.45 #BTC ($73,298,016) aggregated inflows to #Binance View Chart | @CoinCrier

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