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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 👇 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. #BTC☀ #ETHETFsApproved #BinanceTournament $BTC $BNB $ETH
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CRYPTO MARKET: WHAT'S NEXT? Let's take a look at the market through 4 charts: BTC, ETH, Total Crypto Mcap, and ALT Mcap. Bitcoin: BTC price is below $65,000 and has been in a downtrend channel for the last two weeks. However, it’s still in a BULL trend on the long-term frame. Support levels are at $63,000 and $60,000. The chart shows BTC forming the Right Shoulder in a Bullish Head & Shoulders Pattern. But guys, it's too late to buy Bitcoin. ETH: The ETH price is also in a short-term correction with major support at $3,250. An ETH and Solana ETF could come in the next 15 days, so we might see a strong bounce. Around $3,300 would be a good entry point. Time to load up on Ethereum! Total Crypto Mcap: Total Crypto Mcap is in a short-term correction but remains above the mega bull trend line. It’s time to stock up on altcoins because the altcoin market is ready to pump. 🚀 Who believes in the moon on Solana or ETH? 🌙 #BTCUSDT #ETHUSDT #solanausdt $ETH $BTC $SOL
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#BTC☀ BTC → it will touch the $85K The chart shows a forming head and shoulders pattern! a double one! I think it will touch the gray area to form the next double right shoulders, afterwards, it will reach the neckline level (I've shown it as a dashed-line)! if the dashed line breaks up the price will touch the $85k level! let's see! #BTCAnalysi #BTCUSDT
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#BTC Hold it before it's too late!!!!!! #BTC☀ #BTCUSDT #BinanceTournament BTC
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#PEPEUSDT Everything is on the chart. Support has been tested a second time just two days ago. This support is now a slow-moving exponential moving average. 👉 We are likely to see a break of this support based on my analysis. My analysis goes like this: ➖ The first bullish wave was very steep and its correction ends at support. ➖ The second bullish wave is weak compared to the previous one. The same support is being tested. ➖ Since the second wave is much weaker, it is likely that support will fail next; based on short-term signals. One thing to keep in mind are the market movers —professional traders. They track the market, the exchanges; your orders, actions and the rest. ➖ If there is lots of selling; people becoming aware of the upcoming correction; they move to buy in order to liquidate the shorters and then SHORT themselves. This is shown here with a curved red-line. 👉 Such moves do not change the market cycle, the general trend. 👉 PEPEUSDT is aiming lower but, remember, things can always change. Thank you for reading. #PEPE_EXPERT #PepeCoinToTheMoon #PEPEATH #pepe⚡
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