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