📉 📢Market Overview: Why Crypto Prices Just Dropped 🛑
1️⃣ Profit-Taking After July Rally – Total crypto market cap fell ~2.5% on Aug 12 as traders locked in profits. Long liquidations surged to $442M in 24h, including $130M in $ETH , adding extra sell pressure.
2️⃣ Technical Weakness & Institutional Selling – $BTC broke key support at 38.2% Fib (~$118,833) and its 30-day MA, triggering auto-sells. Falling Coinbase Premium Gap hints at rising U.S. institutional selling.
3️⃣ Macro Headwinds – U.S. core inflation at 3.1% YoY (above Fed’s 2% target) dims hopes for quick rate cuts. Stronger 💵 = lower appetite for risk assets like crypto.
Is the bull run ⚡ over? or this is just a shake off for another major surge.
Lemme know your thoughts in the comments
