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📉 Bitcoin Price Drop - Key Reasons (Last 24 Hours)
Bitcoin has seen a 1.07% decline in the last 24 hours. The main reasons behind this drop are:
1. 💥 $65.5M BTC Liquidations A wave of futures liquidations triggered forced selling, adding downward pressure to the market.
2. 📉 Technical Breakdown Bitcoin failed to hold above the key resistance level at $118.8K, signaling technical weakness and sparking bearish sentiment.
3. 🏛️ Grayscale IPO Uncertainty Grayscale’s IPO filing and leadership changes have led to institutional caution, as investors weigh the implications. #BTC☀ #BTC $BTC
The chart shows the historical and projected movement of the total Altcoin Market Capitalization from 2018 to 2027. $XRP
2018-2020: After a major correction, the market went through a long accumulation phase, followed by a strong breakout leading to a market cap of $350 Billion.$BNB
2020-2021: Marked by an "up only" phase, reaching around $1 Trillion in market cap.
2022-2023: Market corrected again and entered accumulation territory.
2024-2025: Currently, we are again in the "we are here" zone, similar to previous cycles before a major breakout.
2025-2027 (Prediction): The chart suggests a major "up only" rally is coming, with a projected peak altcoin market cap reaching approximately $5 Trillion. $SHIB
Conclusion: According to this chart structure, we are about to enter a strong bullish phase in the altcoin market cycle, similar to previous bull runs, with potential for significant upside in the coming years. #altcoins #AltcoinSeasonLoading