The reasons for the Bitcoin crash have been found! Here are the three major negative factors you must understand:
1. Powell's Strong Stance:
Federal Reserve Chairman Powell clearly responded that Trump has no authority to dismiss him. Previously, the market had expected he might step down.
2. 14-Year Bitcoin Whale Sell-off
A large holder who has held Bitcoin for 14 years has started selling.
3. Bitcoin ETF Fund Outflows
After a month of continuous net inflows, the Bitcoin ETF has rarely seen three days of net outflows.
Lao Luo's Opinion:
Setting aside the interference from news, the current correction is a healthy adjustment. It is recommended to focus on the fund flows of Bitcoin ETFs:
Continued net outflows: may indicate a market shift to bearish.
Restoration of large inflows: could be a normal operation for the main players to clear lower liquidity.
