There are four reasons why the crypto market is tumbling hard this week.
1.OPTIONS ENDTomorrow, $23 billion worth of bitcoin and ethereum options will expire.This is the conclusion of the quarter for options, which normally implies a lot of ups and downs.The most you can get for $BTC is $110,000, while the most you can get for $ETH is $3,700.Whales normally push prices down to the lowest point of discomfort, and that's what they're doing right now.
2) THE UNITED STATES GOVERNMENT IS CLOSING DOWN.There is a 67% possibility that the US government will shut down by October 1.People are worried because the market has gone down in the past when the US government has shut down.
3) GOOD ECONOMIC DATAThe new figures for Q2 GDP came in at 3.8%, which is higher than the 3.3% that was projected.In the long run, excellent economic data is good, but in the short run, it's harmful.This is because positive economic data makes it less likely that rates will go down.
4) TOO MUCH LEVERAGELast week, retail traders opened high-leverage bets because of all the buzz regarding Perps DEX.At one point, there were approximately twice as many open interest altcoins as there were Bitcoin.People are losing money right now, which is making the market crash.IN THE END, I THINK WHALES SET THIS UP PERFECTLY SO YOU WILL PANIC SELL YOUR COINS BEFORE Q4.They started September out on a good note to make people think it will only get better.People are selling swiftly before the Q4 surge because whales are getting rid of their stocks.#Write2Earn
