The price of Bitcoin experienced a sudden decline of about 8% in just 10 minutes, leaving crypto investors searching for an explanation. Several theories have emerged from Market analysts attempting to understand the cause of the drop. One theory suggests that Elon Musk’s sale of SpaceX company’s Bitcoin assets may have put pressure on the price. Another theory relates the decline to fears of the bankruptcy of a major Chinese real estate giant and an increase in interest rates. Tina Teng, a market analyst, argues that the surge in government bond yields may be the main reason behind the sell-off. She also suggests that the Evergrande crisis has had an indirect impact on Bitcoin’s price. Markus Thielen, a research manager, sees the risk of devaluation of the Chinese Yuan as a significant factor contributing to the sales. In addition, a derivatives trader known as TheFlowHorse believes that a single major actor making a large sell-off may have caused the sudden drop in price. This would have put pressure on derivatives and led to liquidations of long positions. Despite various theories, the exact cause of the decline remains uncertain, with much speculation surrounding the event..
#Secret #Latest #Bitcoin #Dump #Solved #Heres #Happened
#Secret #Latest #Bitcoin #Dump #Solved #Heres #Happened
