🚨 A sudden shock in the cryptocurrency markets! A sharp decline in Bitcoin! (What is causing these fluctuations?) ⁉

The cryptocurrency markets experienced a sudden shock after Bitcoin recorded a sharp decline, following the sale of around 24,000 Bitcoins worth approximately $2.7 billion by one of the whales, along with a transfer of some liquidity to Ethereum.

This coincided with a net outflow of $1.17 billion from Bitcoin exchange-traded funds (ETFs) in the United States.

🔴 Despite this pressure:

MicroStrategy has bolstered institutional confidence in the sector by acquiring an additional 3,081 Bitcoins valued at $356.9 million, a clear indication of continued long-term institutional demand for the currency.

📉 On the technical performance front:

Bitcoin has decreased by 2.54% over the past 24 hours, with the MACD indicator showing a downward trend, and the price falling below the exponential moving averages (EMAs).

In contrast, the Relative Strength Index (RSI) showed signs of being oversold, while the Bollinger Bands hint at the possibility of a short-term rebound.