June 19 — Initial drop from around $106,000 📉
Cause:
⚠️ Growing concerns over further Fed tightening. Media hinted at possible rate hikes or continued hawkish tone.
📊 Technical breakdown below $106,500 support triggered selling pressure.
June 20 — Sharp decline from $104,500 to $102,500 💥
Cause:
💸 Massive liquidations of long positions (~$450M) on exchanges triggered stop-losses, amplifying sell-off.
😟 Worsening retail sentiment — many taking profits and exiting.
June 21 (current) — Holding around $101,700 with possible further decline ⚖️
Cause:
📉 Weakness in stock market (S&P 500 down 1.2%) pushes capital out of risk assets.
🐋 Reduced whale activity lowers buying demand.
🌍 Rising geopolitical tensions increase uncertainty and flight to safety.
Summary:
🔄 Drops driven by mix of macro risks, technical triggers, and psychology.
🏃♂️ Liquidations and retail sell-offs fuel downward momentum.
🛑 Lack of big buyer support slows recovery.
