๐ค Is Eid Causing a Crypto Dip? The Unexpected Reason Behind This Weekโs Selling Pressure ๐๐
As Eid al-Adha approaches, we could see a wave of selling in the crypto market ๐ฐ๐. Why? Many Muslim investors around the world prepare for this holy occasion by performing Qurbani โ the sacrifice of animals like goats, sheep, or cows ๐๐ in honor of Prophet Ibrahim's devotion. Itโs a major spiritual and financial commitment.
To cover the cost of the sacrifice and other Eid-related expenses, some may liquidate crypto assets like Bitcoin (BTC)๐ , Ethereum (ETH)๐ท, or Solana (SOL)๐, or WCT. That means more selling pressure around this time. While it's just one possible reason, it's something savvy traders might want to factor in ๐๐.
Will this cause a dip or just a small ripple? ๐ Only time (and the blockchain โ๏ธ)
