BTC VIVA
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🩸BTC dropped to $119,000, pulling altcoins down with it. Over the past day, long positions worth $670 million have been liquidated — there were too many optimists expecting further growth.
Reasons for the correction:
• Bad inflation and other data came out in the US.
• The US Secretary of the Treasury stated that they will not buy cryptocurrency for state reserves, but will only use confiscated assets.
• Hack of the Turkish exchange BtcTurk for $50 million.
In addition, there has been a wave of deposits on exchanges:
16,560,331 #XRP (53,349,637 USD) transferred from unknown wallet to #Coinbase
13,000 #ETH (59,704,643 USD) transferred from unknown wallet to #Binance
469 #BTC (55,965,138 USD) transferred from unknown wallet to Coinbase Institutional
Reasons for the correction:
• Bad inflation and other data came out in the US.
• The US Secretary of the Treasury stated that they will not buy cryptocurrency for state reserves, but will only use confiscated assets.
• Hack of the Turkish exchange BtcTurk for $50 million.
In addition, there has been a wave of deposits on exchanges:
16,560,331 #XRP (53,349,637 USD) transferred from unknown wallet to #Coinbase
13,000 #ETH (59,704,643 USD) transferred from unknown wallet to #Binance
469 #BTC (55,965,138 USD) transferred from unknown wallet to Coinbase Institutional
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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