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<ul> 
 <li>Bitcoin’s price drop is driven by $93 million in market liquidations, geopolitical unrest, and U.S. economic strength.</li> 
 <li>A mix of trader losses and U.S. policy shifts have also contributed to Bitcoin’s recent sell-off.</li> 
 <li>Bitcoin is dipping but long-term holders remain optimistic.</li> 
</ul> 
<p>Bitcoin has recently taken a significant hit, raising concerns in the <a href="https://cryptonewsland.com/tag/crypto-market/" target="_blank" rel="noreferrer noopener">cryptocurrency</a><a href="https://cryptonewsland.com/tag/crypto-market/"> market</a>. But what exactly has led to BTC dumping? According to experts, the answer is multifaceted, with several factors contributing to the downward trend.&nbsp;</p> 
<p>Analysts have pointed to a combination of market dynamics, geopolitical events, and macroeconomic indicators as the main culprits behind Bitcoin’s recent price drop. Also, market liquidations have played a pivotal role. The video below explores these factors in detail.&nbsp;</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="BITCOIN: DUMPING VERY FAST!!! BUT WHYYY WHYYY" width="640" height="360" src="https://www.youtube.com/embed/GKTxzWtOLOo?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-selling-pressure-and-geopolitical-factors-nbsp">Selling Pressure and Geopolitical Factors&nbsp;</h2> 
<p>With over <a href="https://coinstats.app/news/2d29f1cc7c86d0e0da70bafd809a77e7412a3cf3d6aadbb564a249197f49f53c_Bitcoin-Price-Slump-Spurs-93-Million-Liquidation-Rebound-Possible-With-Spot-ETF-Surge/">$93 million in crypto </a><a href="https://coinstats.app/news/2d29f1cc7c86d0e0da70bafd809a77e7412a3cf3d6aadbb564a249197f49f53c_Bitcoin-Price-Slump-Spurs-93-Million-Liquidation-Rebound-Possible-With-Spot-ETF-Surge/" target="_blank" rel="noreferrer noopener nofollow">liquidations</a>, traders have faced substantial losses, causing a ripple effect across the market. The selling pressure has been relentless, pushing Bitcoin’s price below key support levels.</p> 
<p>Secondly, geopolitical tensions and economic uncertainties have created a risk-off environment among investors. The bankruptcy of a major Chinese property giant and rumors of U.S. government plans to regulate digital assets have fueled fear, uncertainty, and doubt (FUD) within the crypto community.</p> 
<h2 class="wp-block-heading" id="h-macroeconomic-factors">Macroeconomic Factors</h2> 
<p><a href="https://www.cnbc.com/2024/06/07/jobs-report-may-2024-us-job-gains-totaled-272000-in-may.html">Better-than-expected </a><a href="https://www.cnbc.com/2024/06/07/jobs-report-may-2024-us-job-gains-totaled-272000-in-may.html" target="_blank" rel="noreferrer noopener nofollow">job</a><a href="https://www.cnbc.com/2024/06/07/jobs-report-may-2024-us-job-gains-totaled-272000-in-may.html"> data</a> in the United States and rising bond yields have strengthened the dollar, making riskier assets like Bitcoin less attractive. Additionally, the gradual tightening of monetary policy by the U.S. Federal Reserve has contributed to the bearish sentiment.</p> 
<p>Despite these challenges, some analysts remain optimistic about Bitcoin’s future. Decreasing BTC balances on exchanges suggest that investors are moving their tokens into self-custody wallets, indicating a lack of intention to sell in anticipation of future price increases.</p> 
<p>While <a href="https://cryptonewsland.com/bitcoin-and-ethereum-take-a-dip-amidst-broad-crypto-market-bleed/">Bitcoin’s </a><a href="https://cryptonewsland.com/bitcoin-and-ethereum-take-a-dip-amidst-broad-crypto-market-bleed/" target="_blank" rel="noreferrer noopener">current</a><a href="https://cryptonewsland.com/bitcoin-and-ethereum-take-a-dip-amidst-broad-crypto-market-bleed/"> slump</a> may seem alarming, it is essential to remember that volatility is inherent in the cryptocurrency market. As the ecosystem continues to mature, investors must stay informed and vigilant to navigate these turbulent waters successfully.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/crypto-covid-crash-repeats-amid-geopolitical-tensions-traders-buy-dip/">Crypto Covid Crash Repeats Amid Geopolitical Tensions, Traders Buy Dip</a></li>
 <li><a href="https://cryptonewsland.com/golden-heights-paxgs-surge-amid-middle-east-turmoil/">Golden Heights: PAXG’s Surge Amid Middle East Turmoil</a></li>
 <li><a href="https://cryptonewsland.com/u-s-senate-btc-has-certainty-in-a-very-uncertain-world/">U.S. Senate: BTC Has Certainty In a Very Uncertain World</a></li>
 <li><a href="https://cryptonewsland.com/crypto-leaders-highlight-the-ongoing-challenges-in-us-cryptocurrency-legislation/">Crypto Leaders Highlight the Ongoing Challenges in US Cryptocurrency Legislation</a></li>
 <li><a href="https://cryptonewsland.com/xrp-surges-over-3-break-in-downward-trend-signals-potential-reversal/">XRP Surges Over 3%: Break in Downward Trend Signals Potential Reversal</a></li>
</ul> 
<p>The post <a href="https://cryptonewsland.com/whats-driving-bitcoins-downward-trend-and-when-will-this-correction-turn-bullish/">What’s Driving Bitcoin’s Downward Trend and When Will This Correction Turn Bullish?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

What’s Driving Bitcoin’s Downward Trend and When Will This Correction Turn Bullish?

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