๐จ Crypto Market Alert: BTC & ETH Dip! ๐จ
Bitcoin (BTC) and Ethereum (ETH) are seeing a sharp dip today! ๐ BTC has dropped to around $112,821, while ETH is trading near $4,827. Hereโs why this is happening:
1๏ธโฃ Profit-Taking & Market Consolidation
After hitting highs of $124K, Bitcoin saw a 4% drop. ๐ Many long-term holders are taking profits, creating resistance and slowing momentum.
2๏ธโฃ Leveraged Liquidations
A sudden price reversal triggered over $1 billion in liquidations within 24 hours! โก This was pushed by unexpected U.S. inflation and PPI data, causing a flash sell-off.
3๏ธโฃ Macroeconomic Uncertainty
Traders are cautious ahead of Federal Reserve decisions ๐ต. Updates from FOMC meeting minutes and Powellโs Jackson Hole speech added uncertainty, affecting market sentiment.
4๏ธโฃ Technical Breakdown
ETH is extra volatile below $4,200. โ ๏ธ A drop to $4,170 could trigger more long liquidations, adding pressure to the market.
5๏ธโฃ ETF Inflows & Outflows
Ethereum ETFs previously saw record inflows, but now outflows are rising ๐, showing investors are becoming cautious.
๐ก Summary: BTC & ETH are down due to profit-taking, liquidations, macro uncertainty, and technical factors. Traders should stay alert and watch the market closely! ๐
