I'm assuming too many people went long leveraged again and the CEX's decided to wipe them all out. That's why this is a HODLers game. Timing the market gets you rekt.
A youtube video I saw said 1 month ago, BTC was around 44k and there was a low amount of leverage. So it would make sense that people started adding leverage as the price went up over the past month and why 44k or so was the point where it dropped to.
I could come up with all sorts of factors that have influenced the crypto markets today. I could talk about Steve Forbes FUD video. Maybe legacy financial institutions are dumping after pumping. Who knows? It all boils down to:
I'm assuming too many people went long leveraged again and the CEX's decided to wipe them all out. That's why this is a HODLers game. Timing the market gets you rekt.
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A youtube video I saw said 1 month ago, BTC was around 44k and there was a low amount of leverage. So it would make sense that people started adding leverage as the price went up over the past month and why 44k or so was the point where it dropped to.
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Thanks! It's a good reason. Still waiting for the market to be recovered :(
It was rather fast so it is interesting.
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I could come up with all sorts of factors that have influenced the crypto markets today. I could talk about Steve Forbes FUD video. Maybe legacy financial institutions are dumping after pumping. Who knows? It all boils down to:
Posted Using LeoFinance Beta
Well it was a 20% price cut and it didn't last very long. So I would say it's really bullish since it didn't drop for long.
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