Hitman
@hitman7
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1335 Followers
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WHY IS BITCOIN DUMPING?
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TODAY BITCOIN DUMPED BELOW
$61,000, CAUSING OVER $260
MILLION IN LONG LIQUIDATIONSÂ
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HERE'S WHY BTC DUMPED
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1) UNEMPLOYMENT RATE RISING
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- YESTERDAY, THE US UNEMPLOYMENT RATE CAME AT 4.3% WHICH WAS HIGHER THAN EXPECTEDÂ
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- HIGH UNEMPLOYMENT INDICATES THAT THE US ECONOMY COULD BE HEADED TOWARDS RECESSION, WHICH CAUSED THE STOCK MARKET CRASH ALONG WITH CRYPTO
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2) JAPANESE YEN STRENGTHENINGÂ
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- BOJ (BANK OF JAPAN) RAISED THE INTEREST RATE FOR THE FIRST TIME IN 17 YEARS
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- THIS IS CAUSING THE INVESTORS TO PULL THEIR MONEY OUT OF THE US EQUITIES AND OTHER RISK-ON ASSETSÂ
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- THE REASON IS THAT BEFORE THE INTEREST RATE RISE, IT COSTED NOTHING TO BORROW YEN, BUT NOW IT DOES
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3) WWIII FEAR
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- FOR THE 5TH TIME IN 2024, THERE'S FEAR OF WWIII
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- DURING TIMES OF UNCERTAINTY, INVESTORS CHOOSE NOT TO HOLD RISK-ON ASSETS, WHICH IS CAUSING THE DUMP
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4) MT. GOX AND GENESIS DISTRIBUTIONÂ
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- MT. GOX BTC DISTRIBUTION IS NEARING AN END, BUT NOW GENESIS DISTRIBUTION HAS… 0 reply
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