WHY IS BITCOIN DUMPING? Â TODAY BITCOIN DUMPED BELOW $61,000, CAUSING OVER $260 MILLION IN LONG LIQUIDATIONSÂ Â HERE'S WHY BTC DUMPED Â 1) UNEMPLOYMENT RATE RISING Â - YESTERDAY, THE US UNEMPLOYMENT RATE CAME AT 4.3% WHICH WAS HIGHER THAN EXPECTEDÂ Â - HIGH UNEMPLOYMENT INDICATES THAT THE US ECONOMY COULD BE HEADED TOWARDS RECESSION, WHICH CAUSED THE STOCK MARKET CRASH ALONG WITH CRYPTO Â 2) JAPANESE YEN STRENGTHENINGÂ Â - BOJ (BANK OF JAPAN) RAISED THE INTEREST RATE FOR THE FIRST TIME IN 17 YEARS Â - THIS IS CAUSING THE INVESTORS TO PULL THEIR MONEY OUT OF THE US EQUITIES AND OTHER RISK-ON ASSETSÂ Â - THE REASON IS THAT BEFORE THE INTEREST RATE RISE, IT COSTED NOTHING TO BORROW YEN, BUT NOW IT DOES Â 3) WWIII FEAR Â - FOR THE 5TH TIME IN 2024, THERE'S FEAR OF WWIII Â - DURING TIMES OF UNCERTAINTY, INVESTORS CHOOSE NOT TO HOLD RISK-ON ASSETS, WHICH IS CAUSING THE DUMP Â 4) MT. GOX AND GENESIS DISTRIBUTIONÂ Â - MT. GOX BTC DISTRIBUTION IS NEARING AN END, BUT NOW GENESIS DISTRIBUTION HAS STARTEDÂ Â - YESTERDAY, THEY SENT OVER $1B WORTH OF BTC WHICH MARKET SENSED AS AN UPCOMING DUMP Â IMO, ALL OF THESE EVENTS WILL PUSH THE FED TO ACT FASTER AND RATE CUTS WILL START. Â ONCE THE FEAR CALMS DOWN MARKET WILL REBOUND AND THE PARABOLIC RUN WILL BEGIN đ„
So, while we wait for the fireworks, here are 3 things you can do to prep for the coming storm:
Stay Woke: My Twitter feed is your secret weapon against FOMO. đ Follow me for juicy market insights, spicy memes, and the latest alpha to keep you ahead of the game. đ§
Roll with the Punches: Remember, crypto's a wild ride. đą Last bull run, the Top 20 got a major makeover. New narratives, new players, same ol' Bitcoin still ruling the roost. đ Ethereum's not going anywhere either. These two titans are locked in an epic battle for the ages. đ„
Check Your Crypto Closet: Time for a wardrobe change! đ Are your altcoins still on-trend for this cycle? Hottest looks this season: #DePIN, #RWA, #AI, #LSD, #L2. đ
Personal Pep Talk:
Don't let boredom dull your sparkle! âš Keep learning, keep growing, and keep your eyes on the prize. The crypto world might be yawning right now, but it's about to wake up with a BANG! đ„
The crypto world is buzzing with Ethereum's ETF debut, but don't count Bitcoin out just yet! đȘ While recent price dips might have some investors sweating, savvy traders are eyeing this as a potential accumulation zone. đ
Here's why Bitcoin is STILL the king:
đ Limited Supply: With only 21 million bitcoins ever to be mined, scarcity is Bitcoin's superpower. đ Institutional Adoption: Major financial players are still stacking sats, signaling long-term confidence in Bitcoin's value. đ Global Recognition: Bitcoin is the most recognized and widely accepted cryptocurrency worldwide, making it a safe haven asset for many. #ETH_ETFs_Trading_Today #BinanceHODLerBANANA #SOFR_Spike #ETH_ETFs_Approval_Predictions $BTC $ETH $BNB
đ Ethereum's ETF Era: A New Dawn for Crypto? đ
The SEC's recent approval of Ethereum ETFs has sent shockwaves through the crypto world! đ While initial price dips have raised eyebrows, many experts see this as a golden opportunity for long-term growth. đ
â ïžInstitutional Money Inflow: Expect a flood of institutional investment into ETH, potentially driving its price to new all-time highs. đ°
â ïžMainstream Adoption: ETFs make ETH more accessible to the average investor, paving the way for greater adoption and increased demand. đ
â ïžDeFi Revolution: Ethereum's dominance in the DeFi space is set to soar, unlocking new possibilities for financial innovation. đĄ
But remember, the crypto market is a rollercoaster đą. Always DYOR (Do Your Own Research) and invest wisely! đ§
Bitcoin whales đł splashed $23B in July, while #Ethereum ETFs launched amidst uncertainty. But $ETH dips 7.5%, and #Nvidia's in the red.đTop Movers:đ #STMX, #BETA, #1000SATS are up!đ» $ETH , $BNB, $SOL, $DOGE take a hit.Is this a buying opportunity or a sign of more volatility? đ€ Keep an eye on those #Bitcoin whales! đ #BTC #ETH #ETF #marketupdate #trading $BTC $ETH
WHY IS #BITCOIN AND CRYPTO CRASHING?  IN THE PAST 12 HOURS, BTC AND CRYPTO HAVE LOST OVER $100 BILLION IN MARKET CAP  HERE'S WHY THIS HAPPENED đ  AS WE KNOW, THE CRYPTO MARKET IS HIGHLY CORRELATED WITH THE STOCKS MARKET  IN THE PAST 2 DAYS, ALPHABET AND TESLA REPORTED THEIR QUARTER EARNINGS.  ALPHABET MISSED YOUTUBE AD REVENUE EXPECTATIONS WHILE TESLA REPORTED FALLING PROFITS  THIS CAUSED A DUMP ON BOTH ALPHABET AND TESLA, WHICH RESULTED IN THE S&P 500 AND NASDAQ'S BIGGEST DUMP SINCE SEPTEMBER 2022.  THE 7 LARGEST COMPANIES LOST $500 BILLION IN MARKET CAP, WHILE THE ENTIRE US STOCK MARKET LOST $1.1 TRILLION.
BUT THERE'S SOMETHING ELSE TOO
BITSTAMP WILL START DISTRIBUTING MT. GOX BTC FROM TODAY
IT IS EXPECTED THAT THEY'LL DISTRIBUTE OVER 35K BTC WORTH $2.25 BILLION
THE MARKET USUALLY TRY TO PRICE IN THESE DUMPS, SO BTC DIPPED BELOW $64K
Ever wondered why the market often seems to do the opposite of what you expect? Why does it pump when you think it's about to dump, and dump when you think it's about to pump? The answer is simple.
Itâs market cycles.
The market moves in cycles, and recognizing these can give you an edge. Whether it's the hype of a bull run or the despair of a bear market, cycles dictate the flow.
This is why understanding market phases is critical.
FOMO (Fear of Missing Out) and FUD (Fear, Uncertainty, Doubt) are powerful forces. FOMO drives prices up, and FUD drives them down. Knowing when to buy and sell amidst these emotions is key.
So, how do you navigate these cycles? One effective way is through technical analysis. Study past trends, and patterns, and use indicators to predict future movements.
Keep an eye on volume, market sentiment, and historical data. Recognizing the signs of a cycle shift can help you make informed decisions.
Avoid making impulsive decisions based on emotions.
When everyone is euphoric, itâs often a signal to take profits.
When everyone is panicking, itâs often a signal to accumulate.
WHY IS BITCOIN DUMPING?  BTC recently dropped below $61,000, making a new monthly low of $60.5K  Here are some of the major reasons behind this BTC dump đ  1) Mt. Gox distribution  Just a few hours ago, Bloomberg reported that Mt. Gox had announced plans to distribute 143K BTC to its creditors starting in July.  This will add huge selling pressure on BTC, and that's why the market is dumping in panic.  2) Miners selling  In the month of June, miners selling reached a yearly high.  Miners sold around 30K worth $1.8B in the first 3 weeks.  3) Huge ETF outflows  Since June 15, Bitcoin ETFs have experienced nearly $1B in outflows.  It has experienced seven consecutive trading days of outflow, and it still seems like there could be more to come.  4) The German government dump  Beside miners and ETFs, the German government is also selling BTC.  It has sold over $200M worth of BTC and still holds over $2.8B worth of it.  All of this has caused spot selling along with massive forced liquidations.  In the long run, #BTC is still going to $100K+, and you need to HODL your bags; otherwise, you'll always buy high and sell low.