Bitcoin took a sudden nosedive to $100K, and here's the scoop! 😮💨 Turns out, leveraged bets might have played a big role, with some analysts pointing to a "bull trap" setup. A whale took a $100 million hit and the market reacted with volatility.
Recession fears and doubts about how some custodians are handling Bitcoin are also weighing on the market, making it tough for Bitcoin to reclaim $110K. Some investors are worried about a potential economic slowdown and whether custodians are re-hypothecating Bitcoin. 🤔
Even though big players are still buying Bitcoin, the lack of transparency around the US Strategic Bitcoin Reserves is adding to the uncertainty. It seems like these unresolved issues are keeping the price down. 🔥
What do you make of all this?
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