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@SINGHCRYPTO π€©
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π Bitcoin's first drop below $67K since April 4 was accompanied by the liquidation of more than $850 million over the last day.
π£S&P500 and gold prices also retreated along with cryptocurrencies, suggesting concerns over CPI and inflation are playing out across all sectors.
π’STRK/USDT 312%
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π’SNX/USDT 427%
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Yesterday, the cryptocurrency market experienced a downturn for the following reasons:
βοΈ 1. Hong Kong is on the verge of passing legislation for Bitcoin and Ethereum ETFs. Traditional financial institutions aim to buy Bitcoin and Ethereum from the market at lower prices before this happens. Consequently, some institutions collaborated to short the market, intending to pressure retail investors into selling their cryptocurrencies at a lower price. This situation resembles what occurred a few months ago in the United States before the legislation for Bitcoin and Ethereum ETFs, when the cryptocurrency market also experienced a downturn. However, shortly after, Bitcoin prices began to rise continuously until reaching a historic high.
βοΈ 2. Bitcoin is approaching its fourth halving event, which historically leads to a significant price increase. Traditional financial institutions seek to purchase Bitcoin from the market at lower prices before the halving occurs. Therefore, some institutions collaborated to short the market, aiming to pressure retail investors into selling their cryptocurrencies at a lower price.
It's advisable for everyone to stay calm and wait for a comprehensive market upturn by the end of the month. Don't be deceived by top-tier traditional financial institutions; they are trying to snatch cheap chips from our hands.
π Binancemarcopolo.com π
Juicy dip in alts, it's best to load now. I am buying these coins :
$OP - 2.4$
$XAI - 0.73$
$ORDI - 61$
$INJ - 25.7$
$NTRN - 0.81$
$SOL - 150$
$APT - 9.6$
$FET - 2.08$
$RNDR - 8$
$AGIX - 0.82$
$OCEAN - 0.85$
$AMB - 0.0096$
Invested most of the funds, a small portion in USDT left.
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π Binance profit PnL
Quick update on our PnL from yesterday! We managed to increase our portfolio again by another 17% πΌ
If you remember we only closed a few trades yesterday as we decided to keep the rest open and will probably close them today βοΈ
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