🔥🔥🔥 WHY DID CRYPTO CURRENCIES FALL? EXPERT ANALYST EXPLAINED‼️
🔥🔥🔥 The future of cryptocurrencies will depend on how these dynamics evolve‼️
➡️ Bitcoin dropped to $65,000 again after testing the $72,000 level. Popular analyst Willy Woo explained the reasons for this decline. Woo stated that swelling open positions in futures accelerated sales. He also said that long-term investors could not bear to sell and these sales triggered the decline.
Impact of Paper BTC:
➡️ Woo stated that futures and forward Bitcoin ETFs are called “paper BTC” and that they do not increase the actual BTC supply. Approval of spot Bitcoin ETFs could create real supply shortages. Woo stated that paper BTC flooded the market and this prevented the price increase. He pointed out the impact on the price of those who want to buy real BTC now preferring paper BTC.
🔥 As a result, the decline in Bitcoin and cryptocurrencies was accelerated by futures and long-term investors selling. Spot Bitcoin ETFs may create real supply shortages in the future❗️