The price of $BTC dropped from $93k to $91k for what reason?
Three elements have combined to create a perfect storm in the market through their combined effect, which includes
1️⃣ Geopolitics: The market experienced a scare when Trump announced his plan to impose 25% tariffs on European countries because of the Greenland dispute.
2️⃣ Rotation: Capital fled to Gold ($4,700) & Silver ($95).
3️⃣ Flush: The $800M worth of overleveraged long positions experienced immediate liquidation.
The two exchanges #coinbase and #Binance experienced major withdrawals but the market showed a different reaction because #MicroStrategy purchased 22,000 BTC worth $2 billion during retail selling panic.
Weak hands fold. Whales accumulate. 🐋
