📉🚀 Bitcoin Downtrend: What's Happening? 📉📊
The last few days have seen strong selling pressure in the cryptocurrency market, and Bitcoin has hit two-month lows. Despite a brief euphoria following statements from Jerome Powell, the weekend brought a surprising collapse.
Three key factors explain this drop:
* Bitcoin Whale in Action: A large wallet, possibly from the Satoshi era, liquidated about 24,000 BTC (approximately US$ 2.6 billion) to open positions in Ethereum. This generated fear and triggered US$ 150 million in liquidations in the derivatives market.
* Technical Indicators on Alert: Bitcoin fell below its 100-day simple moving average and broke through the Ichimoku cloud, signals that usually indicate a trend reversal.
* September Seasonal Pressure: Historically, September is a weak month for Bitcoin, with negative average returns, even during bull cycles.
Despite the drop, some analysts suggest that since the retracement was driven by a single whale, it may be short-lived. Deeper drops usually come from coordinated selling by multiple large players. Keep an eye on the recovery!
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