⚡ CRYPTO MARKET BEARISH TRENDS
The crypto market fell 1.56% during the last 24 hours, Market Cap lost a Billion of Dollars. Market Cap dips below its 7-day SMA ($2.99Trillion), now at $2.95 Trillion. MACD Histogram turned deeply Negative at -0.21 (Negative) and RSI at 42.54 (Neutral) and Fear and Greed fell to 29 _ indicating bearish trends in the market.
MAIN REASONS
1. US-Iran Tensions and rising odds of US strikes on Iran have created uncertainty and fear in the market. US Armada moving to the Gulf region is perceived as a greater threat to regional peace and security. Iranian military leaders threats of counter-attacks signals seriousness of the situation.
2. Odds of the US Government's Shutdown are gradually increasing. It might add FUD in the market & further delay the US legislation of Crypto bills.
3. BTC sharp price dips below $88 K triggered massive Liquidations of $156 Million ,(mostly Longs), resulting in forced closure of positions and cascading price fall.
4. Massive Bitcoin/Ethereum ETF Net Outflows of more than $1.72 Billion in the last Five days.
WATCH OUTS
🔺 Market Cap reclaiming $3 Trillion Psychological levels.
🔺 Funding Rates Turning Positive.
🔺 ETF Inflows or outflows.
🔺 US-Iran Geo-political Developments.
🔺 US tariffs threat of 100% on Canada.
