CandleFocus Why is the Bitcoin Price Falling? What’s Behind the Sudden Drop? Analysts Answer
2024-09-16
Author: Content Editor
Cryptocurrency analytics firm QCP Capital has attributed the recent decline in the crypto market to a combination of geopolitical events and market liquidations. The attempted assassination of former US President Donald Trump and the liquidation of long positions before Asian markets opened deepened the losses in the crypto market. Despite the bearish sentiment, QCP pointed out that Bitcoin showed resilience during a previous major geopolitical event involving Trump. The upcoming FOMC meeting and the Token2049 conference are expected to add to the volatility potential in the market. There has been a sharp increase in volatility across major cryptocurrencies, signaling heightened uncertainty and the potential for large price swings.
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