🔻 Main Reasons for the Decline
$BTC • Significant Macroeconomic Pressure: Market expectations for a Fed rate cut have weakened. Maintaining high interest rates means continued tight dollar liquidity, which is very unfavorable for high-risk speculative assets like Bitcoin.
·$ETH Cooling Institutional Demand: Previously a major buyer, Bitcoin spot ETFs have seen stagnant or even significant outflows. Meanwhile, some long-term holders, including listed companies, have begun large-scale profit-taking.
·$BNB Deteriorating Market Liquidity: According to former BitMEX CEO Arthur Hayes, the tightening of dollar liquidity is the fundamental reason. At the same time, Bitcoin's market depth has fallen to a multi-month low, meaning even small sell orders can trigger sharp price fluctuations.
·#加密市场观察 Deteriorating Technicals: Bitcoin's price not only broke below key moving averages such as the 100-day moving average but also showed bearish technical signals such as a "death cross," exacerbating market panic.
