Maybe it used to be that way, but even that is unlikely. All of this is managed globally. And they use it as one of many tools. But there will be growth.

Crypto market is down for some causes. You should know why this. Below some causes of being down market:





1. Leverage Shakeout (Bearish Impact)
Overview: Derivatives open interest surged 24.6% to $927B, while perpetuals volume spiked 25.8%. However, average funding rates fell 7.3% as traders reduced bullish bets. Bitcoin saw $110M liquidations (-46% vs prior day), signaling forced position closures.
What it means: Over-leveraged longs amplified losses as $BTC BTC failed to hold $115K support. The RSI 14 at 34.2 shows room for further downside before oversold conditions.
2. Crypto-Stock Link (Mixed Impact)
Overview: Crypto showed an 84% correlation with the S&P 500 (SPY) over 24h, tracking equities after weak U.S. jobs data revisions (May/June figures cut by 258K combined).
What it means: Traders treated crypto as risk assets amid recession fears. However, ETH ETF inflows (+$152M weekly) provided partial insulation.
3. Airdrop Sell Pressure (Bearish Impact)
Overview: Binance Alpha’s UPTOP airdrop distributed $340K worth of tokens on August 1, coinciding with UPTOP’s 15.96% drop. Similar selloffs hit Magic Square (-16.8%) and Trusta.AI (-8.78%) post-listings.
What it means: Token unlocks and airdrop profit-taking drained liquidity from blue chips like $BTC /$ETH , which fell 4% and 6.37% weekly.
Conclusion
The dip reflects leveraged position unwinding, macro uncertainty, and micro sell pressure from airdrops. Watch Bitcoin’s $113K Fibonacci 50% retracement level and today’s U.S. nonfarm payrolls data (2:30 PM UTC) for directional cues. Can altcoins decouple if BTC stabilizes? #MarketNews #BearishTrend