Higher interest rates tend to reduce the appeal of riskier assets, aka cryptocurrencies, leading to decreased investment in the cryptos.
(Source: Investopedia)
2. Increased U.S. Treasury Yields:The rise in bond yields, particularly the 10-year U.S. Treasury yield reaching 4.70% (triggered a risk-off sentiment among investors)
This shift often results in the reallocation of funds from volatile assets like cryptocurrencies to more stable investments.
(Source: CoinGape)
3. High Leverage and Liquidations
I suspect this is the main driver behind the "crash". The crypto market is notoriously volatile and combined with high-leverage trading, it is not prone to liquidations. These forced sell-offs can lead to greater price declines.
The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today.
Market saw significant liquidations, with over$627 million wiped out in a 24-hour period, affecting more than 204,000 traders. The majority of these were long positions, indicating that many investors were betting on price increases and were caught off guard by the sudden downturn. (Source: The Currency Analytics)
let it squeeze
:
possible shake out, fires in California, regardless I personally am buying the dip.. I really don't know how many more chances I will have.. but I will take it.. nfa
let it squeeze
72905755
:
brother that choice is on you, I'm long, I don't day trade this because I have a belief of how valuable this really is and I am not risking loosing a single coin, but one chart I'm looking XRP live on YouTube shows shorts may try to take it to 2.22, 2.17 or maybe a little bit lower, which I don't care....that would be really nice for me to get even more... I'm all in on this with everything I have... nfa and good luck to you
let it squeeze
72905755
:
there is another guy who does charts better than I, I just watch YouTube and do my best guess...please don't take anything I say for advice because I am still learning....but I'm bullish as eever...
let it squeeze : possible shake out, fires in California,
regardless I personally am buying the dip.. I really don't know how many more chances I will have.. but I will take it.. nfa
72905755 let it squeeze : Can we buy it now?
let it squeeze 72905755 : brother that choice is on you, I'm long, I don't day trade this because I have a belief of how valuable this really is and I am not risking loosing a single coin, but one chart I'm looking XRP live on YouTube shows shorts may try to take it to 2.22, 2.17 or maybe a little bit lower, which I don't care....that would be really nice for me to get even more... I'm all in on this with everything I have... nfa and good luck to you
72905755 let it squeeze : Okay Thank you very much for patiently explaining so many viewpoints to me. Thank you again!
72905755 let it squeeze : Please continue to send us charts for us to review. Because I am a beginner, thank you!
let it squeeze 72905755 : there is another guy who does charts better than I, I just watch YouTube and do my best guess...please don't take anything I say for advice because I am still learning....but I'm bullish as eever...
Strain : can you share the YouTube links please?
Coach Donnie : fax
聚宝儿 : The key is to kill the bull and bear, what are you thinking?