This time Bitcoin is not a correction, it is being 'choked by the U.S.'
Bitcoin fell below 100,000, which is not a 'normal correction'. Behind it is actually a series of U.S. factors erupting together, suffocating the market. On-chain data is very clear: the real reason the coins were smashed down is because of the funds from the U.S.
First, Americans are selling like crazy.
Coinbase's premium has been negative for several weeks in a row, meaning that the selling pressure from Americans is much stronger than the buying from Asia and Europe. You may have also noticed the pattern during this time — when the Asian market rises, the U.S. market immediately pushes it down, almost happening every day.
Second, long-term holders are also starting to sell together.
This time, it's not just a certain group of people selling, but old hodlers who have held for six months, one year, three years, or even seven years are all selling. Analysts like Will Clemente have also said that such a situation of 'all age groups selling together' is very rare.
Why is this happening? Because Americans need to do tax planning by the end of the year. In simple terms, many long-term holders must sell some to 'lock in profits and balance their books' by the end of the year. Fidelity has confirmed that this year U.S. long-term holders are indeed doing annual settlements.
Third, the U.S. government shutdown has led to a sudden tightening of funds.
The government cannot spend money normally, instead 'passively saving money', resulting in a significant withdrawal of liquidity from the system. Coupled with the market's lack of hope for a rate cut in December, the overall risk appetite in the U.S. suddenly dropped.
U.S. stocks fell, crypto stocks fell 10–20%, and Bitcoin was dragged down by liquidity, all of which are chain reactions.
To summarize:
This wave of decline is essentially 'U.S.-led structural selling pressure'.
Americans are selling more aggressively than anyone else.
Long-term holders are collectively doing year-end settlements.
The U.S. government shutdown has drained liquidity.
The U.S. trading session continues to be weak.
These factors combined have created the current pressure.
Once U.S. liquidity slowly recovers in the coming weeks, the market will improve. But in the short term, the market will still be swayed by the winds from the U.S.
$ZEC $BTC $ETH #加密市场回调 #美国结束政府停摆 #美国加征关税
Bitcoin fell below 100,000, which is not a 'normal correction'. Behind it is actually a series of U.S. factors erupting together, suffocating the market. On-chain data is very clear: the real reason the coins were smashed down is because of the funds from the U.S.
First, Americans are selling like crazy.
Coinbase's premium has been negative for several weeks in a row, meaning that the selling pressure from Americans is much stronger than the buying from Asia and Europe. You may have also noticed the pattern during this time — when the Asian market rises, the U.S. market immediately pushes it down, almost happening every day.
Second, long-term holders are also starting to sell together.
This time, it's not just a certain group of people selling, but old hodlers who have held for six months, one year, three years, or even seven years are all selling. Analysts like Will Clemente have also said that such a situation of 'all age groups selling together' is very rare.
Why is this happening? Because Americans need to do tax planning by the end of the year. In simple terms, many long-term holders must sell some to 'lock in profits and balance their books' by the end of the year. Fidelity has confirmed that this year U.S. long-term holders are indeed doing annual settlements.
Third, the U.S. government shutdown has led to a sudden tightening of funds.
The government cannot spend money normally, instead 'passively saving money', resulting in a significant withdrawal of liquidity from the system. Coupled with the market's lack of hope for a rate cut in December, the overall risk appetite in the U.S. suddenly dropped.
U.S. stocks fell, crypto stocks fell 10–20%, and Bitcoin was dragged down by liquidity, all of which are chain reactions.
To summarize:
This wave of decline is essentially 'U.S.-led structural selling pressure'.
Americans are selling more aggressively than anyone else.
Long-term holders are collectively doing year-end settlements.
The U.S. government shutdown has drained liquidity.
The U.S. trading session continues to be weak.
These factors combined have created the current pressure.
Once U.S. liquidity slowly recovers in the coming weeks, the market will improve. But in the short term, the market will still be swayed by the winds from the U.S.
$ZEC $BTC $ETH #加密市场回调 #美国结束政府停摆 #美国加征关税
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