Many people are asking why $BTC is currently experiencing a significant drop and if there is any news causing it.
At the moment, there doesn't seem to be any major news causing the drop. The flow of funds from #BitcoinETF funds is still strong.
Similar to the dumping events from last week, someone may have sold a large amount of #BTC.😉. leading to the liquidation of many long positions and causing a phenomenon known as a long squeeze.
Glassnode's percentage of profitable Bitcoin addresses is currently very high, indicating that this could be an opportunity for market indicators to cool down.
At the moment, there doesn't seem to be any major news causing the drop. The flow of funds from #BitcoinETF funds is still strong.
Similar to the dumping events from last week, someone may have sold a large amount of #BTC.😉. leading to the liquidation of many long positions and causing a phenomenon known as a long squeeze.
Glassnode's percentage of profitable Bitcoin addresses is currently very high, indicating that this could be an opportunity for market indicators to cool down.