Reasons for Bitcoin's declineThis morning, the price of Bitcoin dropped from over $30000 to $29032. The initial 3
Reasons for Bitcoin's decline
This morning, the price of Bitcoin dropped from over $30000 to $29032. The initial 3.5% decline occurred in just 20 minutes.
Although there is no fundamental reason for the sale, there are currently two factors leading to a sudden drop in prices. These are the large sales of approximately $467 million worth of 16000BTC on Binance and the subsequent wave of liquidation.
Data shows that the Coin On spot market has sold 16000 Bitcoins, while other spot exchanges have sold "quite typical" quantities. This selling pressure is interpreted by the community as' interesting '.
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