Bitcoin at $70,000 again? 📉 What no one is telling you about today's scare🫣
Let's be honest: seeing that red candle near $70,000 gave more than one of us a heart attack. After months of euphoria, the market has just reminded us that Bitcoin doesn't go up in a straight line.
But before panic takes over your portfolio, you need to understand what's really happening "behind the scenes." It's not just a drop; it's a giant game-changer.
🔸Why this crash?
Cleaning up weak hands: Massive liquidations of leveraged positions (more than $800 million in the blink of an eye) are usually the "fuel" behind these rapid drops.
✴️ The Fed effect: With Kevin Warsh on the radar and a more aggressive stance from the Federal Reserve, investors are rotating capital into "safer" assets like gold for the time being. Profit-taking: Many who entered in 2024 are seeing this level as the ideal time to lock in profits before deciding on their next move.
✴️ Key takeaway: The Fear & Greed Index has fallen to "Extreme Fear" levels. Historically, these have been times when more experienced investors start looking for opportunities while the rest sell out of fear.
🔸What now?
The $70,000 level is both psychological and technical. If we break below it, we could soon see a drop to $65,000. But if we hold, this could be the necessary "shake-up" to clear the market and target the coveted $100,000 mark later this year.
The million-dollar question for you: Are you taking advantage of this to "buy the dip" or do you prefer to wait for things to calm down from the sidelines?🍿👇
#bitcoin #cryptocurrencies #trading #BTC $BTC
Disclaimer ⚠️
The information provided in the previous post is for informational and educational purposes only. It should not be construed as financial, investment, legal, or tax advice. 🚫
Investing in cryptocurrencies and decentralized finance (DeFi) carries significant risks, including the potential loss of all invested capital. ⚠️
Always do your own research (DYOR - Do Your Own Research) 🫵🏻